Part B Earning and Budgeting. 1. Calculate the amount that Michael earns in normal week. 19.25 36 !

!693 "er # wk 2. $hen Michael takes his % weeks annual lea&e'he is "aid a holida( loading o) 1*.5+. ,ind the amount that Michael recei&es )or his holida( loading. $hat is the total amount that Michael recei&es )or his % week holida( 693 % 2**2 2**2 ..1*5 !%/5.1 3. Michael is a single "erson who shares two 0edroom )lat with a )riend in (our local area. 1is )lat mate "a(s hal) o) the rent and household 0ills. 2se the news"a"er or internet to )ind the cost o) renting a two 0edroom )lat. %. 3%. 52 1*6/. 1*6/. 3 2 !//%. 5. Estimate the amount that Michael would need to 0udget to co&er 0ills such as tele"hone and electricit( . electricit( 4 !%5. "er 5uarter 1 5uarter 3 month a (ear 135. tele"hone 0ill4!6. #month 6. 12 *2.6a (ear7 135. 8 *2. !2.*. 6. 9nnual Budget Groceries/food Car loan Entertainment Telephone bill Electricity bill !ater bill Total $9000 $2600 $1500 $720 $ 50 $"00 $1 570

*. Michael wishes to "urchase a small % c(linder car. :etermine how much it would cost each week to 0orrow the whole amount o) the motor car . Mitsu0ishi ;ancer weekl( "a(ment4!*/ #$< /.

=esearch the e>"enses that Michael would incur in running his small % c(linder car .include costs such as insurance'registration ? C@P' ser&icing and )uel . =egistration4!312 ,uel A 25...#11.116km#;7 !225. Ber&icing4!13. C@P699MC C9= CDB2=9DCE 92B@=9;C97 45%*.9% */ 52 %.56 %.5683128225.813.85%*.9% !*295.9% 9. Comment on whether Michael earns enough mone( to 0e a0le to a))ord his new car i) he li&es in the shared )lat . MichaelEs annuall( income 693 52 36.36 car e>"ense !*295.9% 9nnuall( 0udget 41%5*. 3 2 *2/5 1ouse rent 4//%. *295.9% 8 *2/5 8 //%. Fes' Michael can a))ord a car. !23%2..9%

=e)erence
htt"G##www.centralcoastcarrentals.com.au#"ricing htt"G##www.realestate.com.au#"ro"ert(4unit4nsw4wollongong4%.%*1116% htt"G##www.rta.nsw.go&.au#registration#)eesconcessions#registration)ees.html-rlid * htt"G##"rices.maa.nsw.go&.au#gs"rices.cgi