
FB 11 - Spending and Budgeting
Flashcard
•
Mathematics
•
KG - University
•
Practice Problem
•
Hard
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15 questions
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1.
FLASHCARD QUESTION
Front
What is the formula to calculate the budget for transportation based on salary?
Back
Budget for transportation = Salary x Percentage allocated for transportation.
2.
FLASHCARD QUESTION
Front
If Landon's monthly salary is $1209 and he budgets 15% for transportation, how much is that in dollars?
Back
$181
3.
FLASHCARD QUESTION
Front
What are the two main components of a budget?
Back
Income and expenses.
4.
FLASHCARD QUESTION
Front
How do you determine how much to save each month for annual expenses?
Back
Divide the total annual expenses by 12.
5.
FLASHCARD QUESTION
Front
If Jacob has annual homeowner expenses of $2,598 for insurance and $156 for property tax, what is his total annual expense?
Back
$2,754.
6.
FLASHCARD QUESTION
Front
What is the monthly savings required for Jacob to cover his annual expenses?
Back
$229.50.
7.
FLASHCARD QUESTION
Front
What part of a budget should you consider reducing if you are spending too much?
Back
Entertainment.
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