14. Robert is in grade 12 and lives on his own. With student loans and a part-time job, he has a combined monthly income of $900. His share of rent for a two-bedroom apartment is $425 per month with utilities included. He spends approximately $175 per month on groceries and $25 per month on laundry. He pays $33.90 per month for his telephone. Next year, Robert's student loans will increase so his combined monthly income will be $950. His rent will increase by 5% and grocery prices are expected to increase by 5%. How much money will he have at the end of the month? a. $261.10 b. $241.10 c. $240.00 d. $271.00
14. Robert is in grade 12 and lives on his own. With student loans and a part-time job, he has a combined monthly income of $900. His share of rent for a two-bedroom apartment is $425 per month with utilities included. He spends approximately $175 per month on groceries and $25 per month on laundry. He pays $33.90 per month for his telephone. Next year, Robert's student loans will increase so his combined monthly income will be $950. His rent will increase by 5% and grocery prices are expected to increase by 5%. How much money will he have at the end of the month? a. $261.10 b. $241.10 c. $240.00 d. $271.00
Chapter6: Business Expenses
Section: Chapter Questions
Problem 69P
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Question
![14. Robert is in grade 12 and lives on his own. With student loans and a part-time job, he has a combined
monthly income of $900. His share of rent for a two-bedroom apartment is $425 per month with utilities
included. He spends approximately $175 per month on groceries and $25 per month on laundry. He pays
$33.90 per month for his telephone.
Next year, Robert's student loans will increase so his combined monthly income will be $950. His rent will
increase by 5% and grocery prices are expected to increase by 5%. How much money will he have at the end
of the month?
a. $261.10
b. $241.10
c. $240.00
d. $271.00](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F616e271e-60b0-4148-ae84-7747bd05c0b8%2F80dbeac5-2d75-42fa-b758-2f1e2264cb01%2F51fxwdb_processed.jpeg&w=3840&q=75)
Transcribed Image Text:14. Robert is in grade 12 and lives on his own. With student loans and a part-time job, he has a combined
monthly income of $900. His share of rent for a two-bedroom apartment is $425 per month with utilities
included. He spends approximately $175 per month on groceries and $25 per month on laundry. He pays
$33.90 per month for his telephone.
Next year, Robert's student loans will increase so his combined monthly income will be $950. His rent will
increase by 5% and grocery prices are expected to increase by 5%. How much money will he have at the end
of the month?
a. $261.10
b. $241.10
c. $240.00
d. $271.00
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