Question

Suppose Jasmine earns $3000 per month after taxes. She spends $1000 on rent, between $80 and $100 on groceries, her electricity and water cost between $120 and $160, car insurance $80, car payment $150 and gas is $40 to $50 per month.

How much should Jasmine budget for electricity and water cost?

$100
$50
$140
$160

Answer 1

The correct answer would be $160

Answer 2

Answer: $140

Explanation:

Jasmine's fixed monthly expenses are:

• Rent: $1000
• Car insurance: $80
• Car payment: $150

Her variable monthly expenses are:

• Groceries: between $80 and $100
• Electricity and water: between $120 and $160
• Gas: between $40 and $50

To determine how much Jasmine should budget for electricity and water cost, we take the average of the range given: ($120 + $160) / 2 = $140. Therefore, Jasmine should budget $140 per month for electricity and water cost.