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2. A family income is $6200 per month, and they have found a great new apartment that they would
like to rent. Rent is $2000 per month. What percent of their income would this be?
3. A family in their 30’s has no retirement category in their budget because they feel that they are too
young to be concerned about saving for retirement. What are the advantages and disadvantages of
this decision.
4. Another family, at age 30, starts putting $50 per month into a Roth IRA earning 12% interest
compounded monthly. How much money (all tax-free) will they have in this account at age 65? (See
Activity 8-1)
8.4 Budgeting