40 44 46 You just received news that one of your closest friends is moving to Toronto, mid-October. Other than you, she doesn't know anyone else she could ask for advice, so she asked you to give her a sense of how much living in Toronto costs. To make sure you can provide her with a sense - as accurate as you can- of what living in Toronto is like, you called her and found out the following details about her: Your friend is an urban planner by training, and she aspires to work for the best urban planning company in Toronto; She has savings of $7,500, which she'll use to settle down until she finds a new job, Moving expenses to Toronto will cost $300 for the flight (one way) and $400 in miscellaneous expenses; A one-bedroom apartment in downtown Toronto rents for $1,500 per month; Groceries cost around $150 per week; She currently has a busy social life: she likes to go out with her friends at least 2 times a week, and she's planning on maintaining this lifestyle in Toronto. A dinner out (food and drinks) costs about $50. Your friend considers this move a new beginning, so she'd like to upgrade her wardrobe to reflect her new life. New clothes would cost $1,000. A new pair of shoes, $250. New work-out clothes: $250. She always dreamt of a new pair of rollerblades and a new bicycle (together they cost $750); She will need a cell phone and also internet services; A new cell phone plan costs $50/month, and a high-speed internet package, about $50 In 2 months time, your friend wants to go to her best friend's wedding, back home. (1) Build a monthly budget for living in Toronto, for your friend, based on the information above; evaluate your friend's financial situation, to determine her success relocating to Toronto (2) Provide 3 recommendations to your friend, to prepare her for her move to Toronto