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Saved Hel Calculate approximately how much money an older (age 65-74) household with an annual income of $46,000 spends on housing each year. Use Exhibit 14-3 Money spent on housing R 090%.. Thu 3:22 PM ri File Edit View History kap1965x 1403 jpg 2.009 1,073 picals 14-3 hibit AGE 75 & OLDER AGE 65-74 w "Average" Older -74 and 75+) useholds Spend eir Money Percent Average $ Amount Average $ Amount $52,366 $48,855 Percent 100 100 $35,467 $36,673 $13,375 $ 4,349 $ 683 $5,091 13.9 100 100 36.5 11.9 Pretax Annual Income Annual Expenditures Housing Food Clothing tired families spend a eater share of their income r food, housing, and medical are than nonretired families $15,838 32.4 12.0 2.9 17.1 12.2 6.1 5.7 11.6 6.284 $ 1,417 $ 8,338 $5.456 $ 2.988 $2,788 $ 6,074 Transportation 5,708 $1,626 $ 800 $ 5,041 15.6 4.4 2.2 13.7 Health Care Entertainment Pensions and Social Security Other Includes cash distribution, alcohol, tobacco, personal care products and services, reading, education, life and personal insurance, and miscellaneous expenses Source: Ann C. Foster, "A Closer Look at Spending Patterns of Older Americans, Beyond the Numbers: Prices and Spending, vol. 5, no 4 (U.S. Bureou of Lobor Statistics. March 2016), https://www.bls.gowlopub/btn/wolume 5/spending- cessed May 4, 201 older-americans htm

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