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General Mathematics · Unit 1 · Consumer arithmetic · Applications of rates, percentages and use of spreadsheets

Prepare a personal budget for a given income, taking into account fixed and discretionary spending.

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Question 1

Mia receives a monthly take-home income of \(\$3{,}850\). Her fixed monthly expenses are: rent \(\$1{,}200\), utilities \(\$180\), insurance \(\$95\), and loan repayment \(\$320\). Her discretionary spending includes groceries (\(\$280\)), entertainment (\(\$150\)), and dining out (\(\$210\)). (a) Calculate Mia's total fixed expenses. (1 mark) (b) Calculate Mia's total discretionary spending. (1 mark) (c) Determine the amount Mia has remaining after all expenses. (1 mark)

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