Question 3 (4 points) Bob and Sally's mortgage payment increases to $1632.00. Their roof starts to leak and they need to replace it. They budget $500 per month (replace the old student loan charge with roof expense) 1. Do Bob and Sally have a surplus or a deficit? 2. By how much? 3. They decide to stop putting money into savings. How much will their balance be? 4. Do you agree with them removing savings payments to create a surplus? Blank # 1 Blank # 2 Blank # 3 Blank #4 Question 4 (2 points) After two years, the roof is paid off, Bob's monthly salary doubled, and their car is paid off (no change in insurance). They again decide to put 10% of their income into savings. 1. Do Bob and Sally have a surplus or a deficit? 2. By how much? Blank # 1 Blank #2 Question 1 (5 points) Saved Using your current spreadsheet: 1. What is the total income? 2. What are the total expenses? 3. How much is placed into savings each month? 4. Do Bob and Sally have a surplus or a deficit? 5. By how much? Blank #1 $6405 Blank # 2 $6653.17 Blank # 3 $640.50 Blank #4 A deficit Blank # 5 $248.17 Question 2 (3 points) Saved Sally's salary increases by $100 per month. They also have paid off all student loans. Make these changes to your spreadsheet. 1. How much do their expenses now total? 2. Do Bob and Sally have a surplus or a deficit? 3. By how much? Blank # 1 $6109.17 Blank # 2 Surplus Blank # 3 $395.83 Question 3 (4 points) Bob and Sally's mortgage payment increases to $1632.00. Their roof starts to leak and they need to replace it. They budget $500 per month (replace the old student loan charge with roof expense) 1. Do Bob and Sally have a surplus or a deficit? 2. By how much? 3. They decide to stop putting money into savings. How much will their balance be? 4. Do you agree with them removing savings payments to create a surplus? Blank # 1 Blank # 2 Blank # 3 Blank #4 Question 4 (2 points) After two years, the roof is paid off, Bob's monthly salary doubled, and their car is paid off (no change in insurance). They again decide to put 10% of their income into savings. 1. Do Bob and Sally have a surplus or a deficit? 2. By how much? Blank # 1 Blank #2 Question 1 (5 points) Saved Using your current spreadsheet: 1. What is the total income? 2. What are the total expenses? 3. How much is placed into savings each month? 4. Do Bob and Sally have a surplus or a deficit? 5. By how much? Blank #1 $6405 Blank # 2 $6653.17 Blank # 3 $640.50 Blank #4 A deficit Blank # 5 $248.17 Question 2 (3 points) Saved Sally's salary increases by $100 per month. They also have paid off all student loans. Make these changes to your spreadsheet. 1. How much do their expenses now total? 2. Do Bob and Sally have a surplus or a deficit? 3. By how much? Blank # 1 $6109.17 Blank # 2 Surplus Blank # 3 $395.83
