Question

If the Owen family has a child in two years, how much can they expect to spend, per year, to raise the child from its birth to when it is five years old?

A) $15,150
B) $14,520
C)$14,280
D)$13,050 ​

Answer 1

Without the specific total cost to raise a child for the first five years, we cannot compute the annual expense from the provided choices. The passage implies raising a child on a limited income can be financially challenging, but does not give enough details to solve the problem.

Step-by-step explanation:

To calculate how much the Owen family can expect to spend per year to raise a child from its birth to when it is five years old, we need to consider the total cost over the five-year period and then divide by the number of years.

Unfortunately, the question does not provide a specific total cost to raise the child for the first five years. Therefore, without additional data or context, we cannot perform an accurate calculation or select the correct answer from the options provided (A) $15,150 (B) $14,520 (C)$14,280 (D)$13,050. To estimate the costs accurately, data on expected expenses such as healthcare, clothing, childcare, food, and other necessities should be given.

However, based on the provided information about income inequalities and poverty lines, it's clear that depending on a family's income, supporting a child can present significant financial challenges. A family living on a limited income would need to manage their budget very carefully to cover all necessary expenses.