Question

12. Imagine you have a budget of $1,000 per month. Make a list of at least three categories you would use that money toward, such as housing, utilities, transportation, food, clothing, entertainment, savings, and so on. Then put a dollar amount next to each item to show how much money you would budget for this item each month. Make sure the total adds up to $1,000. TIP: The cost of each item can be a rough estimate. You don't need to research specific costs of each expense.

Answer 1

Answer:

Housing=$250

Food=$333.34

clothing=$208.33

Savings=$208.33

Explanation:

Total Budget= $1,000

Housing=1/4 of the total budget=(1/4)×1000=$250

Food=1/3 of the total budget=1/3×1000=333.34

clothing=5/24 of the total budget=5/24×1000=208.33

Savings=5/24 of the total budget=5/24×1000=208.33

Total budget=(Housing+Food+Clothing+Savings)

Total budget=(250+333.34+208.33+208.33)=$1,000