38
RCMultiple Choice

Topic Test — Cumulative exam

Question 38 • ****Spring 2026 Financial Math - MA2007 MQS21QXV

Damian wants to save $7200 to buy a car within the next 2 years. Which budget would help Damian save enough money to buy a car in a timely manner with minimal effect on his other essential expenses? Monthly Budget Budget A Budget B Budget C Budget D Income $1000 $1,000 $1,000 $1,000 Expenses- Rent Utilities Food Bus Pass Car Savings School Savings $300 $75 $150 $25 $350 $100 $300 $75 $150 $25 $250 $200 $300 $75 $75 $0 $300 $250 $300 $75 $150 $25 $100 $350

Answer
A
Budget A
B
Budget B
C
Budget C
D
Budget D

Explanation

To save $7,200 in 2 years, Damian needs to save $7,200 ÷ 24 = $300 per month. Budget A sets aside $350 for the car, so it reaches the goal on time while keeping rent, utilities, food, and the bus pass at their usual amounts. Budget B and D save too little for the car, while Budget C cuts food and removes the bus pass.

AI-written and checked against the verified answer.

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