Exercise 2D // BUDGET TIME
Below is information about Randy, a high school senior who is getting set to graduate in a few months. Help Randy balance his budget so his expenses do not exceed his income.
Randy currently works part-time for his father. He makes $7 an hour and works 20 hours a week. After taxes, he brings home about $98 a week. In addition, Randy makes another $50 a week mowing lawns on the weekend.
Randy’s parents bought him a car, but he has to pay for gas ($50 a month) and car insurance ($75 a month). He also has to pay his parents $25 a month for his portion of the cell phone bill. On the weekends, Randy likes to go out to eat and see a movie with friends. He also likes to buy video games.
When Randy graduates in three months, he wants to take a vacation with his friends. He estimates the trip will cost $750. His grandmother has said she will give him $250 for a graduation gift, so he’ll use that for his trip.
Randy will start college in six months and is planning on attending for four to five years. His parents have saved $10,000 for his education, and he is hoping to receive another $1,000 in scholarships.
 |
|---|