"content/enforced/23097528 EL MAT MAP4C1-97 990558 2223Sem2/24%20designing%20budgets pdf 1/2 100% HO Answer the following questions. You must show your work for full marks! 1. You have a net income of $40 000 per year. Your expenses include the following: Rent: $800 per month Insurance: $225 per semi-annually Car Payment: $315 per month Car Expenses: $1000 per year RRSP: $50 per month Entertainment: $50 per week Cell Phone: $75 per month Food: $500 per month a) Create a budget. [10 marks] b) Modify the budget to include a savings plan of $100 per week. [2 marks] c) You paid off your car and have decided to buy a house. Your mortgage payment is now $1 050 per month. Modify the budget to reflect this new financial plan, [3 marks] 54 M 25 2 66 87 B