Question

select the budget that would most quickly achieve the financial goal of saving $8000 for college tuition.
income: $1250, $1000, $1125, $1500
expenses:
rent: $200, $200, $200, $200
utilities: $70, $80, $75, $80
food: $150, $250, $180, $200
cell phone: $0, $75, $40, $100
savings: $800, $800, $800, $800
personal items: $120, $110, $100, $150
entertainment: $30, $100, $25, $80
car expenses: $0, $200, $0, $150
clothing: $0, $0, $0, $0
net income: $60, $35, $80, $40
a. budget a
b. budget b
c. budget c
d. budget d

Explanation:

Step1: Identify savings in each budget

Budget A has savings of $800, Budget B has $85, Budget C has $40 and Budget D has $110.

Step2: Compare savings amounts

The higher the savings amount per - period, the quicker the goal of saving $8000 will be achieved. Among the amounts $800, $85, $40 and $110, $800 is the highest.

Answer:

A. Budget A