CHECK MY MATH PLEASE!?
- When you estimate expenses for a month, you should _______.
A: add expenses for rent/mortage, utilities, food, and gas. (my answer)
B: Round all expenses down.
C: Add only the rent/mortgage and utility expenses.
D: Estimate that it will be about 20% of your net income.
- Suppose you have a bi-weekly mortgage payment of $657. If there are typically 4 weeks in a month, what do you need to do to estimate your monthly mortgage payment?
A: Multiply it by 2, then round
B: Round it down to $650, then multiply by 2
C: Add it to other estimates just as it is
D: Multiply it by 4, then round (my answer)
- Rent is $978. Phone charges last month were $54.89. Groceries cost about $93/week. What is a good estimate of your monthly expenses?
A: $1,126.00
B: $1,100.00
C: $1, 433.00
D: $1,400.00 (my answer)
- Bi-weekly mortgage is $455. Monthly phone charges are $34.95. The electric bill last month was $65.88. Groceries cost about $87/week. What is a good estimate of your monthly expenses?
A: $643.00
B: $904.00 (my answer)
C: $1,098.00
D: $1,359.00
B: Round all expenses down.
C: Add only the rent/mortgage and utility expenses.
D: Estimate that it will be about 20% of your net income.
B: Round it down to $650, then multiply by 2
C: Add it to other estimates just as it is
D: Multiply it by 4, then round (my answer)
B: $1,100.00
C: $1, 433.00
D: $1,400.00 (my answer)
B: $904.00 (my answer)
C: $1,098.00
D: $1,359.00
