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- Multiple ChoicePlease save your changes before editing any questions.What two things does a budget compare?Income and ExpensesSavings and InterestIncome and InvestmentsExpenses and Expenditures
- Multiple ChoicePlease save your changes before editing any questions.Variable expenses may not be the same every month.TrueFalse
- Multiple ChoicePlease save your changes before editing any questions.Expenses that stay the same every month are _________ expenses. Rent would be an example.fixeddiscretionaryvariableintermittent
- Multiple ChoicePlease save your changes before editing any questions.The mortgage payment and the car payment are examples of which of the following?variable expensesassetszero-based budgetingfixed expenses
- Multiple ChoicePlease save your changes before editing any questions.
Which of the following is an example of a variable expense?

car payment

petrol for your car

student loan for college

insurance

- Multiple ChoicePlease save your changes before editing any questions.
Phoebe earns $900 a month. The table shows her monthly budget. Which statement is supported by the information in the table?

Phoebe spends 10% of her monthly budget on clothes.

Phoebe spends less than 15% of her monthly budget on her cell phone bill.

Phoebe uses more than 20% of her monthly budget for college savings.

Phoebe uses more than 50% of her monthly budget on her car payment and food.

- Multiple ChoicePlease save your changes before editing any questions.
In Jamie's monthly budget, each category is assigned a certain percentage of his monthly income of $2,250.

Which statement is NOT supported by the information in the table?

Jamie puts $360 of her monthly income into savings.

Less than $900 of Jamie's monthly income is for his house payment and life insurance.

Jamie budgets $485 of her monthly income for telephone, utilities, and emergencies

More than $530 of Jamie's monthly income is for his car payment and car insurance.

- Multiple ChoicePlease save your changes before editing any questions.
Ryan would like to save 15% of his take-home pay towards retirement. How much should he save each month if he makes $5,000 each month?

$750

$75,000

$1125

$75

- Multiple ChoicePlease save your changes before editing any questions.
If Ryan's take-home pay is $3600, what percentage does he pay for rent if rent is $900.

25%

4%

0.04 %

0.25 %

- Multiple ChoicePlease save your changes before editing any questions.If Sonya works 160 hours in one month, what is her average hourly wage to meet the budget of $3250? Round to the nearest cent.$18.62$20.31$23.42$24.14
- Multiple ChoicePlease save your changes before editing any questions.
Which equation can be used to determine y, the minimum amount of money a family must earn to meet the requirements of this budget for one year?

*y*= 3,600 × 12*y*= 3,600 ÷ 7y = 3,600 × 4

y = 3,600 ÷ 52

- Multiple ChoicePlease save your changes before editing any questions.
The monthly budget for a two-adult family living in El Paso, TX is shown.

Both adults in the family work and earn the same amount in wages. Which equation can be used to determine

*x*, the minimum amount each adult must earn to meet the requirements of this budget for one year?*x*= 4,405 • 12$x=\frac{4,405\ \cdot2}{12}$

*x*= 4,405 • 12 • 2$x=\frac{4,405\ \cdot\ 12}{2}$

- Multiple ChoicePlease save your changes before editing any questions.
What is the Felicia family's minimum household budget?

$3,160

$3,750

$4,349

$4,158

- Multiple ChoicePlease save your changes before editing any questions.
If the Felicia family increased their monthly budget by 5.5%, which is their minimum monthly budget?

$3,787.00

$3,995.29

$5,869.85

$4,576.42

- Multiple ChoicePlease save your changes before editing any questions.
The Bowmans have a monthly income of $5,000. Which expense makes up 20% of their budget?

Mortgage

Food

Utilities

Retirement Savings