Amina makes $48,000 per year before taxes, and takes home around $3500 each month. Given...
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Accounting
Amina makes $48,000 per year before taxes, and takes home around $3500 each month. Given below is an unfinished table representing her monthly budget. Complete the table and answer the questions below.
Part I: What is the "rule of thumb" on how much Amina should spend each month on rent? (1 point)
Part II: Using the rule of thumb, calculate Amina's monthly budget for rent. Express the rent as a percentage of takehome pay (round both answers to the nearest whole number). (2 points: 1 point each)
Part III: How much does Amina spend each month on groceries? (1 point)
Part IV: What percentage of her takehome pay is spent on utilities? (1 point)
Part V: Fill out the remaining portion of the table. (5 points)
Entertainment
$175
Car expenses
30%
Savings
10%
Other
Part VI: Arrange Amina's expenses from greatest to least. (1 point)
Part VII: Fill out the pie chart with the data from your table. Label each slice with an expense name. (6 points: 1 point each)
Rent Groceries 20% Entertainment Car Expenses Savings 10% other 175
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