Budgeting and Being a Smart Consumer Answers

Shondra’s family’s monthly net income is $6,654. The family’s budget is shown in the circle graph below. The family decides to increase the savings budget by 3 percent by decreasing one of the variable expenses by 3 percent.If the family decreases the clothing budget by 3 percent, what amount will it have to spend on clothing? Round to the nearest dollar.

Last year, Nevan’s gross pay was $45,150. The federal income tax percent that was withheld from his gross pay was 16%. The amount of money that Nevan actually owes the government after deductions is $6,150. Which of the following is true?

The Sullivan family made a bar chart to compare how much they spend on different costs each month.. Sullivan Family Monthly BudgetIf the family’s net monthly income is $7,800, what percent of the income is spent on food, clothing, and housing?

How much more did Briana save by purchasing a backpack that cost $45 with a sales promotion of 20% off instead of a backpack that cost $42 with a sales promotion of 10% off?

Hillary’s family is thinking of relocating to a different city to save money. They set up a budget comparing the cost of living in four cities. OaklandPhoenixSanta FeSan DiegoItemCostCostCostCostHousing$565$465$505$1200Food$545$495$475$655Health Care$245$215$200$495Taxes$450$415$385$625Other Necessities$350$305$295$495Monthly Total$2155$1895$1860$3470Based on cost of living alone, which city should they choose to live in?

The Chambers family has a net monthly income of $6,500.If the family decides to reduce its clothing budget by $200 a month, how much will the new clothing budget be? Round to the nearest dollar.

Ramya’s mom was hired for a new job with a yearly income of $84,000. The total of all deductions from her paycheck will be 25% of the gross pay. She asked Ramya to compute her net monthly income. What is Ramya’s mother’s net monthly income?

Shona is buying a rug for her room. Store A has the rug for $45 with a 10% discount. Store B has the same rug for $46 and is offering a $10 off coupon. The sales tax is 6% on either purchase. If Shona only has $40 to spend, which store will she purchase the rug from, and how much will she have left over?

Walden’s family is shopping for a reclining chair. The chair the family decided on has a retail price of $800 plus 5% sales tax at four stores. Each store is offering a different promotion. StorePromotional OfferA$75 instant rebateB10% off saleC5% off sale plus store pays sales taxDa “no tax” sale—the store pays the taxWhich store has the best deal?