Question

How much should the minimum household income be? Category Amount spent per month Housing $1,302 Taxes $1,550 Food $558 Clothing $124 Entertainment $124 Transportation $372 College Savings $558 Retirement Savings $558 Gasoline $248 Emergency Savings $310 Utilities $496 Question 1 options: $6,200 $2,852 $3,100 $10,000

Answer 1

Answer:

$6,200

Step-by-step explanation:

Find out the total amount spent per month

$\ 1,302+\ 1,550+\ 558+\ 124+\ 124+\ 372+\ 558+\ 558+\ 248+\ 310+\ 496)=\ 6,200$

we know that

The household income must be at least the total amount spent per month

Let

x ----> the household income per month

so

$x\geq \ 6,200$

therefore

The minimum household income should be $6,200