Mali lives in a condominium in downtown Toronto and works for a leading telecommunications company as a multimedia specialist. She earns an annual take- home salary of $60,000, and every month she spends $1400 on rent, $600 on car expenses, $200 on a line- of-credit interest payment, $800 on miscellaneous expenses, and saves $2000.

a. What percent of her annual take-home salary are her annual expenses?

b. Her bank manager advised her to invest 10% of her annual take-home salary in a medium-risk mutual fund. What would this amount be every month and what percent of her current savings would this amount be?

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