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)
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.
Practise this objective
AI-marked practice questions tied to QCAA mark schemes for this exact LO. Free to start.
Start free practicePractice questions for this objective
Full questions, answers and worked solutions unlock when you start a free practice session.
Question 1
Worked answer
🔒 Start free to see full answer