Mike already has 40/100 * 1300 = $<<40/100*1300=520>>520.

This means he needs 1300 - 520 = $<<1300-520=780>>780 more, to buy the phone.

# Answer

780
<|im_start|>system
You are a helpful assistant.<|im_end|>
<|im_start|>user
Mike wants to buy a new phone. The cost of the phone is $1300. How much more money does Mike need if he already has 40% of the amount he needs?
Please reason step by step, and put your final answer within \boxed{{}}.<|im_end|>
<|im_start|>assistant

user
780
Mike wants to buy a new phone. The cost of the phone is $1300. How much more money does Mike need if he already has 40% of the amount he needs?
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