Question: Kevin has recently graduated from a college program in Computer Engineering Technology and has accepted a job with a computer networking company. His monthly salary

Kevin has recently graduated from a college program in Computer Engineering Technology and has accepted a job with a computer networking company. His monthly salary after deductions is $2235. Kevin rents a one-bedroom apartment in town. His monthly rent is $950 plus $200 per month for electricity, phone, internet, and cable.Kevin borrows $12 000 to buy a new car. His car loan charges interest of 6.9% per year, compounded monthly. The loan is amortized over 3 years and he makes monthly payments. He spends about $50 on groceries per week. Kevin is also a big movie fan. Between going to the movies and buying DVD's, Kevin estimates that he spends $60 per week.

a) Create a monthly budget for Kevin. (6 Marks)

b) Is Kevin making enough money to cover his expenses? Explain. (2 Marks)

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