For help with 15 and 2 , refer to Example I on page 258 . 1. Identify whether each item is income or an expense. a) money from a hewspaper route b) money for snow shovelling c) public transit monthly pass d) a gift of $50.00 e) paying your friend back $10.00/ month. 2. Bernard gets $12.00 hour when he walks dogs for 4 hours per month. He eams $14.00/ hour when he spends 20 hours working on the farm. He subscribes to a photography club which costs $20.00/month, and he swims 6 times a month at a cost of $6.50 each time. Create a monthly budget for Bernard. What is the balance in his account per month? For help with \#3, refer to Example 2 on page 259. 3. The organizers of a workshop spend $280 on supplies, $165 on lanch, and $1400 on a guest speaker. The conference room holds 45 guests. If each guest pays $46, do the organizers have a balanced budget? Explain your reasoning. For help with 14 and $5 refer to Example 3 on pages 260-261. 4. Cline just started grade 9 and follows the monthly budget shown. She wants to put aside at least 30% of her income every month toward university. Wil her budget allow this? If not, describe how Cline can build a university savings plan into her budget. 5. Michael earns $50.00/m0nth for bike deliveries for a store, $30.00/ month for lawn mowing, and approximately $150.00/ month for helping ont at a recycling centre. The sports team he plays on costs $120.00/ month. He pays his uncle $45.00/month to borrow his laptop. Michael wants to spend $30.00/ month for movies and going out and $30.00/ month for buying electronic games or playing online. a) Create a budget worksheet and fill in Michaels monthly budget. b) Is the budget balanced? Explain your reasoning. c) How could Michael improve his financial situation? Give specific recommendations. MHR - Chapter 7 Banking and Budgeting 6. Ben has an after-school job, and he wants to create a budget. a) Ben's pay is approximately $120 per week. He is paid every Fridar. Calcolate his total income for a month that bas 4 Fridarye. b) Calculate Ben's total income for a month with 5 Pridays. How mach could Ben earn in one year? c) He tracks his spending for October and organizes the information th the table shown. Ben gives his parents $20 weeklv to haln woith avmenere. Calculate Ben's total expenses for each week in October. d) For a monthly budget, what would you use for Ben's income and monthly expenses? e) Explain what the negative numbers in the table mean. 7. Jay is the organizer of an annual Elders Gathering. From what you have learned in this section, what saggestions can you offer lay to manage the money for the event? What suggestions do you have for Jay's budget outline? Discuss your ideas with a partner. 8. At the end of June, Grace's balance was $42.00. In Julv Grace had income of $253.00,$30,00, and $75.00. In July, her expense amounts were $37.90, $22.00,$20.00,$12.00, and $40.00. In August, she had income of $53.00 and $30.00, and expense amounts of $37.90,$22.00,$3.00,$18.45,$16.00, and $40.00. a) Create Grace's budget worksheets for Jaly and Angust Inctude the balance after every amount. b) Identify the fixed amounts in Grace's budget. c) Suggest descriptions of the items in both workshects. d) Did Grace's balance increase or decrease from July to Angust? Predict whether this will continue from August to September Justify your answet. 9. Competency Check Cory works about 20 hours per week at a greenhouse. He earns $255 per week. His current living expenses are listed belone Share of rent $325/ month Bus pass: $72/ month Health/personal: $30/m month Entertainment $25 week Loan repayment: $212/ month Food (groceries + restaurants): $100/ weck a) Calculate Cory's total expenses for a typical 4-weekmonth. b) Create a budget of income and expenses for Cory for this month. c) Calculate the balance of Cory's account at the end of the month. d) Snggest several changes Cory could make to balance his budget. e) Modify Cory' budget so that it is balanced. Use one or more of your paggestions from part d). 10. Sarah is 17 years old and in grade 12. She babysits often and has recently obtained a part-time job at a laosk in the summer market at Whistier, BC. Her monthly budget is shown. a) List the expenses that you think are fired expenses. b) Calculate the balance of Sarah's budget. c) Describe two ways in which Sarah could balance her budget. d) If her expenses are greater than her income, what percent of her income is she over? e) Modify Sarah's budget so that it is balanced. Explain your changes