I need help with this question as soon as possible: 1. How would you classify income made
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Question:
I need help with this question as soon as possible:
1. How would you classify income made from interest received on an RRSP?
Select one:
a.Variable
b.Regular
2. Use the recommended spending percentages for a monthly budget to answer the following questions for an individual who was paid a net income of $1550 bi- monthly. What is the maximum this individual should spend on recreation?
Recommended Percentages
| Savings | 5-10% |
| Charitable Donations | 10-15% |
| Housing | 25-35% |
| Utilities | 5-10% |
| Food | 5-15% |
| Transportation | 10-15% |
| Clothing | 2-7% |
| Health Related | 5-10% |
| Recreation | 5-10% |
| Entertainment | 5-10% |
| Personal Debt | 5-10% |
Select one:
a.
$155
b.
$310
c.
$300
d.
$77.50
3. Use the recommended spending percentages for a monthly budget to answer the following questions for an individual who was paid a net income of $4500 monthly. Which of the following food expense amounts are not within the recommend range?
Recommended Percentages
| Savings | 5-10% |
| Charitable Donations | 10-15% |
| Housing | 25-35% |
| Utilities | 5-10% |
| Food | 5-15% |
| Transportation | 10-15% |
| Clothing | 2-7% |
| Health Related | 5-10% |
| Recreation | 5-10% |
| Entertainment | 5-10% |
| Personal Debt | 5-10% |
Select one:
a.$650
b.$220
c.$255
d.$377
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