Exam 11: Prepare a Budget

William wants to keep his debt-to-income ratio at the recommended 15% or lower.William's house payment is $1,012.84 and his car payment is $579.13.He also has student loans he is repaying in the amount of $250.00 per month.William has eliminated credit cards spending except for budgeted items and continues to pay $300 per month to eliminate his credit card debt.He is looking for a new job.What should his new annual salary goal be in order to keep his debt-to-income ratio at the recommended 15%?

A spreadsheet is an example of an electronic matrix.

The Smythes believe their water meter is not working properly and started keeping track of their meter readings.Mr.Smythe thinks that if he can calculate the amount of water he was charged for using the provider's published piecewise function for water costs and compare it to his own reading,he will know wether meter is working correctly.If their total bill last month was $45.96,how many CCF of water should they have used?

Tamika created this pie chart of her entertainment budget.According to the chart,if Tamika's budget is $125 for entertainment,$36 is budgeted for shopping. ​

A nursery located in Florida uses a water meter to measure its water usage in CCF.It is charged $0.36 per CCF of water.Its last meter reading was 123,692 and their present reading is 127,394.For this usage,the nursery was charged $332.72.

A certain refrigerator requires 170 watts of electricity when it is running.It typically runs about 20 minutes per hour.How much does it cost to run this refrigerator for one year if the cost per kWh is $0.11?

Michelle's last electric bill listed a previous reading of 17,934 kWh.This month,the electric meter reading is 18,796 kWh.If the electric company charges $0.09 per kWh,what is the charge for usage?

Roderick has an Internet service that charges by the hour.This piecewise function shows the cost of the Internet service based on the number of hours that Roderick uses the Internet.Last month,Roderick used the Internet for 7.5 hours.What was he charged?

Last month,Marybeth was charged $112 for 945 kWh of electricity.How much did the company charge her per kWh,to the nearest cent?

Some examples of variable expenses are utility bills and entertainment costs.

The Lisbons' new heat pump cost $4,500.They bought it to replace their old furnace and air conditioner which cost about $2,800 a year to run.The heat pump will save them approximately 39% a year.In how many years will the heat pump pay for itself? Round to the nearest tenth.

A cash flow analysis is a type of budget that helps people plan for future spending and savings.

The Dursleys' heat pump stopped working on the hottest day of the year.The old one wasn't very efficient and Mr.Dursley decided to buy an energy efficient heat pump to save on energy costs.The old heat pump used 15,000 watts of energy and his current electric costs are $0.1233/kWh.The replacement model he is considering uses 11,000 watts of energy to provide the same level of heating and cooling.Mr Dursley's research for his area of the country indicates that a heat pump is used,on average,4 hours per day.If the new heat pump costs $5,000 and he is eligible for a 15% energy tax credit in the year he has it installed,how long will it take for the energy costs to pay for the new heat pump?

Mrs.Watanabe is choosing a cell phone plan.One plan costs $35 a month and includes 450 minutes.The charge for each minute over 450 is $0.16.The company also offers an unlimited calling plan with a $55 monthly charge.At how many minutes would the cost of the two plans be the same

Sarah lives in a part of the country where there are droughts.Consequently,the water company increases the cost per CCF of water based on usage.The piecewise function shows the rate schedule. If Sarah used 210 CCF of water last month,what was she charged?

Which statement is NOT part of a debt-reduction plan?

Richard and Samantha are charting their monthly cash flow.They have some expenses like car repairs and vacations that are not paid each month.How can they account for these non-monthly expenses?

Randy and Jake are brothers living in the same city in homes that are about the same age and size.One brother has recently purchased an energy-efficient gas furnace while the other brother relies on an older,less efficient,oil furnace.By comparing the lines of the graph,it appears that Randy has the more energy-efficient furnace. ​

Jose and Lisa Sanchez created a spreadsheet to chart their income and expenses for the month.The sum of their fixed expenses is in cell B10,the sum of their variable expenses is in cell B23,and the sum of their pro-rated non-monthly expenses is in cell B40.What formula should be entered in the spreadsheet cell that contains their total expenses?

Mrs.Kalbrisa budgets $125 a month for entertainment.She has allocated $10 for the movies and $25 for dining out.She constructs the following budget line graph to represent the situation,where x is the number of movies and y is the number of times she dines out in a month.What combination does NOT fall within her budgeted amount for entertainment? ​ ​