Budget for Terrance
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Questions and Answers

Based on the information provided, what is Terrance's average monthly net income?

  • $3,255.00
  • $3,155.00
  • $3,055.00 (correct)
  • $2,855.00

    • What is Terrance's current occupation?

  • Terrance's occupation is not mentioned.
  • Salesman (correct)
  • Office worker
  • College student

    • Where does Terrance live?

  • In a city apartment with two roommates (correct)
  • Terrance's place of residence is not mentioned.
  • In a suburban house with two roommates
  • In a dormitory on campus

    • What are Terrance's financial goals?

    <p>Both A and B</p> Signup and view all the answers

    What does Terrance want to know about his finances?

    <p>His monthly cash surplus</p> Signup and view all the answers

    How much money will Terrance put in his savings account each month?

    <p>$200/month</p> Signup and view all the answers

    Terrance is attending college full-time while working full-time.

    <p>False</p> Signup and view all the answers

    Terrance's average monthly net income is $3,055.00.

    <p>True</p> Signup and view all the answers

    Terrance lives alone in his city apartment.

    <p>False</p> Signup and view all the answers

    Match the following information about Terrance with the correct detail:

    <p>Age = 24 years old Occupation = Salesman Monthly savings = $200 Living arrangement = City apartment with two roommates</p> Signup and view all the answers

    Match the following aspects of Terrance's life to the correct statement:

    <p>Transportation = Drives to work daily Weekend activity = Going out with friends Financial Goals = Repay college loans and save for an apartment or house Work-education balance = Attending college part-time while working full-time</p> Signup and view all the answers

    Match the following financial aspects of Terrance's life to the correct value:

    <p>Average monthly net income = $3,055.00 Savings per month = $200 Other investments = None Financial goal = Repay college loans and save for an apartment or house</p> Signup and view all the answers

    Based on the information provided, what is Mason's net monthly income?

    <p>$3,575</p> Signup and view all the answers

    What is Sophia's net monthly income?

    <p>$4,435</p> Signup and view all the answers

    How much do the Smiths have in savings?

    <p>$8,000</p> Signup and view all the answers

    How much do the Smiths have in investments?

    <p>$22,000</p> Signup and view all the answers

    What is the monthly house payment for the Smiths' home?

    <p>$1,980</p> Signup and view all the answers

    How much are the Smiths investing monthly for retirement?

    <p>$500</p> Signup and view all the answers

    True or false: Mason and Sophia are both 40 years old?

    <p>True</p> Signup and view all the answers

    True or false: Mason works as a Supervisor at a power plant?

    <p>True</p> Signup and view all the answers

    True or false: The Smiths have $8,000 in savings?

    <p>True</p> Signup and view all the answers

    Match the following people with their occupation:

    <p>Mason Smith = Supervisor at a power plant Sophia Smith = Works in a bank</p> Signup and view all the answers

    Match the Smiths' financial goals with the correct descriptions:

    <p>Short term goal = Pay off their house Long term goal = Begin a college fund for their kids</p> Signup and view all the answers

    Match the Smiths' commuting methods to the correct person:

    <p>Mason Smith = Drives to work daily Sophia Smith = Takes the subway each day</p> Signup and view all the answers

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