Budgeting and Being a Smart Consumer Answers

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?

The Hernandez family budget is shown in the graph. Which 3 categories make up more than half of the Hernandez family budget? Select two choices..

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?

Chin needs more money in his net pay each month, so he plans to reduce his federal income tax deduction from 12% to 11%. His monthly gross pay is $3,500, and his deductions before the change are listed in the table.DeductionDollar AmountFederal Income Tax$420State Income Tax$95Social Security$89Medicare$40 What will be his new monthly net pay? Round your answer 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?

A dishwasher is priced at $475. There are two options offered to reduce the price: either a 15% discount off the price or a rebate of $75. Which is the better choice, and what is the extra amount saved?

Georgia’s gross pay was $35,600 this year. She is to pay a federal income tax of 16%. How much should Georgia pay in federal income tax this year? Round to the nearest dollar.

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?

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.

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?