# 2.08 Financial calculations

## Interactive practice questions

A weekly budget is shown in the table.

Income Expenses
Earnings $505 Mortgage$147
Electricity $23 Food$64
Council Rates $22 Insurance$20
Water $64 Clothing$46
Entertainment $56 Income Expenses Earnings$505 Mortgage $147 Electricity$23
Food $64 Council Rates$22
Insurance $20 Water$64
Clothing $46 Entertainment$56
a

Calculate the weekly expenses.

b

Calculate weekly savings.

c

Calculate the percentage of income saved correct to 2 decimal places.

(Don't forget to include the percentage sign).

d

Calculate the percentage of income spent on mortgage payments correct to 2 decimal places.

Don't forget to include the percentage sign.

e

Calculate the amount paid on the mortgage in one year

Easy
Approx 5 minutes

James's monthly expenses include:

rent, food, cable TV, travel, insurance, clothing, repairs.

Amelia earns a weekly salary of $723 and receives income from other sources of$126. Her weekly expenses are: rent $199, groceries$51, petrol $33, electricity$33, telephone $23, magazines$13 and clothes $62. Calculate: Sally earns$\$610$$610 per week. Her weekly work related expenses are \185$$185 on travel and$\$86$\$86 on lunch. What percentage of her weekly income goes towards work related expenses? Give your answer correct to two decimal places.

### Outcomes

#### ACMEM001

solve practical problems requiring basic number operations

#### ACMEM002

apply arithmetic operations according to their correct order

#### ACMEM008

evaluate decimal fractions to the required number of decimal places