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Budgeting Math Problems 8
Solve each of the following problems.
5.
The Bradshaws estimated that they spent $2,965 last year on food for their
family of five. If $1,114 was spent on food away from home, what percentage
of their food budget was spent on food at home?
$2,965 - $1,114 = $1,851
$1,851 / 2,965 = .624 = 62.4%
62.4 %
6.
Russ has $120 deducted from each of his 26 paychecks and deposited in his
401(k) retirement plan. If the company matches 50% of his deposits, how
much will have been deposited in a year?
$120 x 26 = $3,120
$3,120 x 1.5 = $4,680
$ 4,680.00
7.
In adding up their total liabilities, the Swansons found they owed an average
of $2,855 on two different credit cards. One credit card had a balance of
$3,142. What was the balance on the other card?
$3,142 + x = $2,855 (2)
$3,142 + x = $5,710
x = $2,568
$ 2,568.00
8.
One family spent 6.5% of their $55,250 yearly income on clothing. Another
family spent 7.3% of their $42,500 income. What was the average amount the
two families spent on clothing?
$55,250 x .065 = $3,591.25
$42,500 x .073 = $3,102.50
$3,591.25 + $3,102.50 = $6,693.75
$6,693.75 / 2 = $3,346.88
$ 3,346.88
Name: ____________________________________
Class: _______________________ Period: ____