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
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Financial Algebra advanced algebra with financial applications
ISBN: 978-0538449670
1st edition
Authors: Robert K. Gerver
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