Budgeting and Being a Smart Consumer(CFA1) Answers
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.
Yoko is trying to save money for a new bicycle. She sets up a budget as shown below. Yoko’s Monthly BudgetDescriptionIncome Expenses Earnings (babysitting)$125 Earnings (bagging groceries)$55 Entertainment $25Snacks $10Transportation $25Clothing $35Amount available for savings: $How much money will Yoko have left over for her savings each month?
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?
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?
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?
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