Norman is a high school senior who is learning about financial planning. Below is a list of his income and expenses for the previous month. allowance: $200 movie tickets: $25 wages: $1,000 bonus: $100 auto loan: $500 birthday gift: $50 interest on savings: $15 auto repairs from accident: $150 auto insurance: $450 concert tickets: $45 Categorize each of the items above using the following categories: Anticipated income Unanticipated income Anticipated expenses Unanticipated expenses Identify Norman's unearned income, if any. Are variable expenses anticipated or unanticipated? Calculate Norman's income for the past month and expenses for the past month.
Norman is a high school senior who is learning about financial planning. Below is a list of his income and expenses for the previous month. allowance: $200 movie tickets: $25 wages: $1,000 bonus: $100 auto loan: $500 birthday gift: $50 interest on savings: $15 auto repairs from accident: $150 auto insurance: $450 concert tickets: $45 Categorize each of the items above using the following categories: Anticipated income Unanticipated income Anticipated expenses Unanticipated expenses Identify Norman's unearned income, if any. Are variable expenses anticipated or unanticipated? Calculate Norman's income for the past month and expenses for the past month.
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
Problem 1PS
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Norman is a high school senior who is learning about financial planning. Below is a list of his income and expenses for the previous month.
- allowance: $200
- movie tickets: $25
- wages: $1,000
- bonus: $100
- auto loan: $500
- birthday gift: $50
- interest on savings: $15
- auto repairs from accident: $150
- auto insurance: $450
- concert tickets: $45
- Categorize each of the items above using the following categories:
- Anticipated income
- Unanticipated income
- Anticipated expenses
- Unanticipated expenses
- Identify Norman's unearned income, if any.
- Are variable expenses anticipated or unanticipated?
- Calculate Norman's income for the past month and expenses for the past month.
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