damian wants to save $7200 to buy a car within the next 2 years. which budget would help damian save enough…

damian wants to save $7200 to buy a car within the next 2 years. which budget would help damian save enough money to buy a car in a timely manner with minimal effect on his other essential expenses? monthly budget budget a budget b budget c budget d income $1000 $1,000 $1,000 $1,000 expenses- rent $300 $300 $300 $300 utilities $75 $75 $75 $75 food $150 $150 $75 $150 bus pass $25 $25 $0 $25 car savings $350 $250 $300 $100 school savings $100 $200 $250 $350 a. budget a b. budget b c. budget c d. budget d

damian wants to save $7200 to buy a car within the next 2 years. which budget would help damian save enough money to buy a car in a timely manner with minimal effect on his other essential expenses? monthly budget budget a budget b budget c budget d income $1000 $1,000 $1,000 $1,000 expenses- rent $300 $300 $300 $300 utilities $75 $75 $75 $75 food $150 $150 $75 $150 bus pass $25 $25 $0 $25 car savings $350 $250 $300 $100 school savings $100 $200 $250 $350 a. budget a b. budget b c. budget c d. budget d

Answer

Explanation:

Step1: Calculate total needed monthly savings

Damian wants to save $7200 in 2 years (24 months). So the monthly - savings goal is $\frac{7200}{24}=300$.

Step2: Analyze each budget

  • Budget A: Monthly car - savings is $350\geq300$.
  • Budget B: Monthly car - savings is $250\lt300$.
  • Budget C: Monthly car - savings is $300 = 300$.
  • Budget D: Monthly car - savings is $100\lt300$.

Budget A and Budget C both meet the savings goal. But we also consider the impact on other essential expenses. Budget C has a more balanced distribution as it has some amount for school savings while still meeting the car - savings goal.

Answer:

c. Budget C