Working out household savings

Max brings home a salary of $1250 a month. He puts away 20% of his monthly salary in savings. In 1 year, how much does Max have in his savings?

• $1000

• $2000

• $3000

• $4000

Linda's monthly expenses are 55% of her salary. Her salary is $3210. How much money does she spend on her monthly expenses?

• $1234.50

• $1765.50

• $2312.67

• $1562.82

Tomu's expenses come up to $500 in a month. His salary is $2100. Tomu is saving money to buy a car that costs $4500? How many months of savings does he need to do?

• 2 months

• 3 months

• 4 months

• 5 months

Mila has earns an annual salary of $124000. Her monthly savings are $670. What are her yearly expenses?

• $126 000

• $145 000.54

• $115 960.00

• None of the above

Expenses are necessary in a household

• True

• False

Income does not refer to a salary

• True

• False

Savings are not important

• True

• False

Expenses are generally higher than savings

• True

• False

Sometimes, savings are used to go on vacation

• True

• False

Households and businesses share common roles, these are:

• Producers

• Professionals

• Consumers

• Savers