Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

QUESTION 1 Celina Makau and her family wants to save money for a holiday to Cape Town in December. Celina eams R 1 2 0

QUESTION 1
Celina Makau and her family wants to save money for a holiday to Cape Town in December. Celina eams R12000 a month and her husband, Zane. earns R14300 a month. The family have to save R2000 per month to ensure that they have sufficient money available to cover the expenses for the irip to Cape Town
Table 1: Income and Expenditure for the household for August 2022
\table[[,Income,Expenses],[Celina Salary,R12000,],[Zane Salary,R14300,],[Water & electricity,,R1500,00],[Rent,,R5200,00],[Groceries,,R4500,00],[Car insurance,R 875,00,],[Cell phone contract (2 phones),,R1200,00],[Medical Aid (family),,R2400,00],[School fees (2 children),,B],[Fuel,,R2350,00],[Enterlainment,,R3500,00],[Car instalment,A,R25075],[TOTAL,,]]
1.1 Refer to the table above and answer the questions that follow.
1.1.1 Briefly explain the difference between fixed and variable expenses.
1.1.2 Determine the value of A, the total monthly income.
1.1.3 List TWO variable expenses.
1.1.4 How much does the family pay for the school fees for one child for the month?
1.1.5 Will the Makau family be able to save the expecied amount for a month for their holiday? Show all
(3)
calculations
1.1.6 Mention ONE way in which the family can save more money for their holiday.
(2)
1.2
The Makua family is not able to save enough money monthly to
Page 12 PTO
image text in transcribed

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Apartment Inspection And Walkthrough Checklist

Authors: Nicholas Price

1st Edition

B0B3N9JR8Y

More Books

Students also viewed these Finance questions

Question

If so, what factors allow the company to do so?10-1.

Answered: 1 week ago

Question

Will the individual understand it?

Answered: 1 week ago