Section 1

Now, check your understanding of the lesson’s objectives. Then check your answers.

 

Self-Check 1

1. Betty has prepared her personal budget and a pie graph. Betty's budget is balanced and based on her take-home pay of $2465. One of her expense categories is food. She budgets $350 for food.
   
   
   1. Calculate what percentage of her budget is spent on food. Answer
      
      
   2. Calculate how many degrees there are in the food sector of her budget pie graph. Answer
      
      
2. Felix has prepared a balanced monthly budget.
   
   
   1. Prepare a circle graph using the method you prefer. Following is the solution determined from using the spreadsheet in the lesson. Answer
      
      
   2. How much more would Felix save if he moved and his rent was only 35% of his income? Answer
      
      

      Felix’s Monthly Budget
      Income			Expenses
      Regular	$3000		Rent	$1200
      			Car	$600
      			Food	$400
      			Clothing	$200
      			Entertainment	$300
      			Other	$200
      			Savings	$100
      Totals	$3000			$3000

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