Personal Budget — Unit test Answers

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 a. Budget A b. Budget B c. Budget C d. Budget D Please select the best answer from the choices provided

Besides the cost of tuition, what additional educational expenses must students pay? Check all that apply.

The document shows a 1040 form.

One possible solution to a diminishing Social Security payroll is to decrease the Social Security benefit by 13%. How would such a decrease effect the benefits on a salary of $54,000? a.Benefit would decrease by $1,404 annually.b.Benefit would decrease by $7,020 annually.c.Benefit would decrease by $8,640 annually.d.Benefit would decrease by $15,660 annually.

If $2300 is spent on vacations or travel each year, estimate how much should be set aside each month for those expenses?a.Approximately $200 per month should be set aside for vacation or travel expenses.b.Approximately $2300 per month should be set aside for vacation or travel expenses.c.Approximately $1250 per month should be set aside for vacation or travel expenses.d.Approximately $230 per month should be set aside for vacation or travel expenses.