1.04 Quiz 4 Review:

Which of the following is an annual expense?

• car insurance

• monthly electric bill

• monthly rent

• savings

You spent these amounts on gasoline for the past four months: $67, $78, $53, $89.

What should you budget for gasoline this month (Hint: Take the average of the 4 months)

• $70

• 52

• $72

• $89

Home insurance costs $468 annually (per year)

How much should you budget monthly for home insurance? (hint: Divide by 12 months)

• $52

• $39

• $48

• $687

You spend $890 a month on living expenses.

If your monthly income is $1500, what percent of your income do you spend on living expenses? (hint: divide monthly living expenses by monthly income, and then multiply that result by 100)

Round to the nearest tenth percent.

• 59.3%

• 59.8333%

• 37%

• 45%

Which of the following is a fixed expense? Hint: What cost doesn't depend on a varying need?

• clothing needs

• transportation calculated by the miles traveled

• water bill calculated by the water usage meter

• A flat rate car payment

What are the total living expenses based on this picture of Mary's Monthly budget?

• $530

• $430

• $330

• $130

The fixed expenses are what percent of Mary's income? hint: Divide total fixed expenses by total of Mary's income,and multiply that result by 100.

Round to nearest tenth of percent.

• 29.2%

• 34.3%

• 20.1%

• 2.9%