Calculate approximately how much money an older (age 6574) household with an annual income of $45,000 spends on housing each year. Use Exhibit 18-4.

nonretired families. Age 65-74 Age 75 & Older Percent Percent Average $ Amount Average $ Amount Pretax Annual Income $52,366 100 $35,467 100 Annual Expenditures $48,855 100 $36,673 100 Housing $ 15,838 32.4 $ 13,375 36.5 Food $ 6,284 12.0 $ 4,349 11.9 Clothing $ 1,417 2.9 $ 683 1.9 Transportation $ 8,338 171 $ 5,091 13.9 Health Care $ 5,456 12.2 $ 5,708 15.6 Entertainment $ 2,988 6.1 $ 1,626 4.4 Pensions and Social Security $ 2,788 5.7 $ 800 2.2 Other* $ 6,074 11.6 $ 5,041 13.7 *Includes cash contributions, alcohol, tobacco, personal care products and services, reading, education, life and personal