Name _______________________________________ Date __________________ Class __________________
LESSON
14-1
Personal Budgets
Practice and Problem Solving: A/B= homework Monday March 23
For Exercises 1–7, use the circle graph. The circle graph
shows how the Alvarados spend their monthly income of
$6,000.
1. What percent of the Alvarados’ income goes to the
mortgage payment?
___________________________
2. How much do the Alvarados spend on food each month?
___________________________
3. How much more do they spend on taxes than on clothing?
___________________________
4. The Alvarados buy medical insurance for $300 a month. What percent
of their total budget is that?
____________
5. Is medical insurance a fixed or variable expense? Explain.
________________________________________________________________________________________
6. Mrs. Alvarado gets a raise that increases their income to $6,500
a month. Their mortgage stays the same. What percent of their
monthly income do they now spend on the mortgage?
____________
7. Use the table to find the Alvarados’ monthly budget (amounts and
percents) before Mrs. Alvarado’s raise.
Description
Amount
Percent
____________
23%
Taxes
$950
____________
Food
____________
12%
Savings
$300
____________
Recreation
$600
____________
Clothing
____________
7%
Insurance
____________
11%
Transportation
____________
5%
Utilities
____________
3%
Miscellaneous
____________
8.2%
Mortgage
Original content Copyright © by Houghton Mifflin Harcourt. Additions and changes to the original content are the responsibility of the instructor.
296