6.04 Quiz: Self Check 6

This is the O'Donnells' monthly budget. Living Expenses Fixed Expenses Annual Expenses Income Food $467 Mortgage $489 Home Insurance $146 $1720 Transportation $175 Car Payment $107 Car Insurance $780 Household $194 Savings $35 Life Insurance $150 Personal $124 Contingency $30 Vacation $700 What is the monthly share of the annual expenses?

$148

According to the pie chart, how much do the Burtons' spend on annual expenses?

$475

This is the O'Donnells' monthly budget. Living Expenses Fixed Expenses Annual Expenses Income Food $467 Mortgage $489 Home Insurance $146 $1720 Transportation $175 Car Payment $107 Car Insurance $780 Household $194 Savings $35 Life Insurance $150 Personal $124 Contingency $30 Vacation $700 To balance the budget, how much money must be cut from the budget?

$49

This is the O'Donnells' monthly budget. Living Expenses Fixed Expenses Annual Expenses Income Food $467 Mortgage $489 Home Insurance $146 $1720 Transportation $175 Car Payment $107 Car Insurance $780 Household $194 Savings $35 Life Insurance $150 Personal $124 Contingency $30 Vacation $700 What are the total fixed expenses?

$661

The pie chart represents the Burtons' budget. If they have a monthly income of $2500, how much do they spend on fixed expenses? Round to the nearest dollar.

$825

This is the O'Donnells' monthly budget. Living Expenses Fixed Expenses Annual Expenses Income Food $467 Mortgage $489 Home Insurance $146 $1720 Transportation $175 Car Payment $107 Car Insurance $780 Household $194 Savings $35 Life Insurance $150 Personal $124 Contingency $30 Vacation $700 What are the total living expenses?

$960

This is the O'Donnells' monthly budget. Living Expenses Fixed Expenses Annual Expenses Income Food $467 Mortgage $489 Home Insurance $146 $1720 Transportation $175 Car Payment $107 Car Insurance $780 Household $194 Savings $35 Life Insurance $150 Personal $124 Contingency $30 Vacation $700 The O'Donnells' fixed expenses are what percent of their income?

38.4%

This is the O'Donnells' monthly budget. Living Expenses Fixed Expenses Annual Expenses Income Food $467 Mortgage $489 Home Insurance $146 $1720 Transportation $175 Car Payment $107 Car Insurance $780 Household $194 Savings $35 Life Insurance $150 Personal $124 Contingency $30 Vacation $700 The O'Donnells' living expenses are what percent of their income?

55.8%

Which of the following budgets is in surplus?

Income $500, Fixed Exp. $100, Living Expenses $300

This is the O'Donnells' monthly budget. Living Expenses Fixed Expenses Annual Expenses Income Food $467 Mortgage $489 Home Insurance $146 $1720 Transportation $175 Car Payment $107 Car Insurance $780 Household $194 Savings $35 Life Insurance $150 Personal $124 Contingency $30 Vacation $700 What describes the status of the budget?

It is in deficit