Question

Lewis has a net spendable income of $2,000 per month. He sets up the following transportation budget for himself.

3. Transportation (15% - 20%) 400
a. Car payments 210
b. Gas/Oil 120
c. Insurance 60
d. License/Registration 8
e. Taxes 2
f. Maintenance/Repair

What has Lewis done wrong?

Answer 1

Do you have any choices for what lewis did wrong?

Answer 2

His life is wrong. e.e

Answer 3

I think he budgeted less than the minimum recommended amount of money for transportation.

Answer 4

A) He budgeted more than the maximum recommended amount of money for transportation.
B) He budgeted less than the minimum recommended amount of money to cover gas for the month.
C) He has more money in the subcategories than he budgeted for in the main category.
D)
He has not budgeted for all of the expenses in the subcategories.

Answer 5

I think it might be A

Answer 6

why do you think that?

Answer 7

I think that because the minimum of the transportation is 15% of the total amount. So since 15% of 2000 is 300 dollars. He added a extra 100 dollars for transportation.

Answer 8

If you feel I did a good job on helping you feel free to click the best answer button next to mine or Elsas name. Also welcome to QuestionCove Sniper :)

Answer 9

i see you make an excellent point! Thanks for the help !

Answer 10

No problem :)