Approximately what percent of his income does Nardeep spend on monthly accommodations costs? d) Approximately how much of his income is left over? 43. Martha and Kevin have two children. This is the monthly budget that they used for the past year. Average Fixed Variable Income (5) Expenses (5) Expenses (5) Martha 2600 mortgage 2095 groceries 350 Kevin 270 dectricity 90 taxes car loan 350 clothing 65 gasoline 70 800 car repairs 100 2400 property 150 60 no cable, and Internet 5000 Total 3640 Total 760 Balance (Income - Expenses) = 600 In September, their youngest child will be going into grade 1 so their daycare expenses will be reduced by 70%. They will have also paid off their car loan. Their property taxes will increase by 12% and electricity by 4%. a) Adjust their budget and calculate their new balance. b) Martha and Kevin want to invest the extra money in their children's RESP. add money to their RRSPs, make an extra payment on their mortgage, and save for a vacation. Add a savings plan to their budget and calculate the new balance. Explain and justify your savings plan. Chapter 1 to 8 Review MHR 497