The Consumer Credit Counseling Service suggests that the monthly food budget be between 15-30% of income. a.
Question:
a. What is Laura's total monthly food bill including dining out?
b. What percent of her income is spent on food?
c. Is Laura below, in, or above the recommended interval?
Transcribed Image Text:
Laura's Financial Report Income Teacher, monthly after-tax income: $5,000 Tutor, monthly after-tax income: $1,200 Monthly Expenses Rent Car loarn Electricity Sanitation Cable/Internet $40 Dining out Gasoline Water Renter's insurance $30 Debt reduction $200 Non-Monthly Expenses Medical: $250 in April, $250 in September Auto-related: $400 in October Home-related: $250 in February, $250 in November Life insurance: $110 in April, August, December Tuition: $2,000 in May (summer) and August (fall) Vacation: $800 in July Gifts: $250 in March and December Contributions: $10 each week of the year Repairs: $280 in October Taxes: $1,500 in January and September $2,200 $180 $80 $50 Groceries Personal loan $100 Land line phone $60 Auto insurance $70 Savings College loan $250 Cell phone Medical insurance $60 Entertainment $250 $600 $400 $200 $200 $40 $80
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 55% (9 reviews)
a 200 dining out 600 groc...View the full answer
Answered By
Brian wachira
Am a teacher by profession and now am a teacher in a high school with 2yrs experience in teaching. In my life have been tutoring students and they have managed to score good grades.
0.00
0 Reviews
10+ Question Solved
Related Book For
Financial Algebra advanced algebra with financial applications
ISBN: 978-0538449670
1st edition
Authors: Robert K. Gerver
Question Posted:
Students also viewed these Linear Algebra questions
-
1. Determine whether there is a significant relationship between the number of new clients seen and the number of people on food stamps and/or the business activity index. Don't forget the...
-
1. Analyze the significance of the variables in Dorothy's regression model. Develop a regression model (be sure to include additive dummy variables for the seasonal component, if necessary), and use...
-
1. Write Dorothy a memo that explains the Box-Jenkins methodology. 2. Develop an ARIMA model using the Box-Jenkins methodology, and forecast the monthly number of new clients for the rest of 1993. 3....
-
Miller Companys contribution format income statement for the most recent month is shown below: Total Per Unit Sales (41,000 units) $ 287,000 $ 7.00 Variable expenses 164,000 4.00 Contribution margin...
-
Big Apple Investment Bankers offers Northern Diagnostics the following options on its initial public sale of equity: (1) a best-efforts arrangement whereby Big Apple will keep 2 % of the retail sales...
-
Management defined the client churn problem as a sales problem, to be solved with a modified sales compensation plan. What else could have caused the client churn problem and how would you have...
-
A centrifugal fan has a power input of \(25 \mathrm{~kW}\), an inner radius of \(R_{1}=0.5 \mathrm{~m}\), an outer radius of \(R_{2}=1.0 \mathrm{~m}\), and delivers \(100 \mathrm{~kg} / \mathrm{s}\)...
-
A firms long-run total cost function is C = 360 + 40Q + 10Q2. a. What is the shape of the long-run average cost curve? b. Find the output that minimizes average cost. c. The firm faces the fixed...
-
Suppose Carol's stock price is currently $20 and does not currently pay dividends. In the next 6 months it will either fall to $10 or rise to $40. What is the current value of a European 6-month call...
-
The trial balance of Dominic Company shown below does not balance. Your review of the ledger reveals that each account has a normal balance. You also discover the following errors. 1. The totals of...
-
Bob Forrester is retired and owns a home. He has these assets and liabilities. a. Calculate Bob's net worth. b. Two years ago, Bob's net worth was $650,000. Last year, his net worth as $740,500. What...
-
Examine Laura's non-monthly expenses. a. Which month has the greatest expenses? b. How might Laura prepare for those expenses? Laura's Financial Report Income Teacher, monthly after-tax income:...
-
The accompanying table lists goodness-of-fit measures that were obtained when estimating the following multiple linear regression models: Which model provides a better fit for y? Justify your...
-
Imagine you are planning an upcoming campaign for a local coffee shop. Create a content strategy document.
-
How can we explain the Six Degrees of Kevin Bacon game as an example of social network theory?
-
Why is brand sponsorship of video influencers so effective?
-
Why are VLAs useful as function parameters?
-
Enumerated constants are limited to which intrinsic data type?
-
Find the splitting field K in C of the polynomial (x 4 - 4x - 1) Q[x]. Compute the group of the polynomial over Q and exhibit the correspondence between the subgroups of G(K/Q) and the intermediate...
-
Consider the sections of two circuits illustrated above. Select True or False for all statements.After connecting a and b to a battery, the voltage across R1 always equals the voltage across R2.Rcd...
-
In Exercises 1-3, solve the given system by back substitution. 1. x - 2y = 1 y = 3 2. 2u - 3v = 5 2v = 6 3. x - y + z = 0 2y - z = 1 3z = - 1
-
The systems in Exercises 1 and 2 exhibit a "lower triangular" pattern that makes them easy to solve by forward substitution. (We will encounter forward substitution again in Chapter 3.) Solve these...
-
Find the augmented matrices of the linear systems in Exercises 1-3. 1. x - y = 0 2x + y = 3 2. 2x1 + 3x2 - x3 = 1 x1 + x3 = 0 -x1 + 2x2 - 2x3 = 0 3. x + 5y = - 1 -x + y = - 5 2x + 4y = 4
-
4) Suppose that you are given the following information for BlackBerry's common stock: Year 2017 2018 2019 2020 2021 Price ($) 26.0 28.6 26.3 30.5 31.1 What is the arithmetic mean of the rate of...
-
1. Introduce and explain the Fashion Minimalism , how it came to be, e.g.: origins/inception. 2. Identify what the Fashion Minimalism and how it encompasses sustainability in the fashion industry. 3....
-
What are the x- intercepts of the function f(x) = (x+7)(x 6)? -
Study smarter with the SolutionInn App