Question

What is the total of your fixed expenses?

Expense

Amount

Mortgage

$1,034.78

Utility bill

$168.34

Credit card

$54.21

Groceries

$98.75

Khakis (required for work)

$45.88

(1 point)
Responses

$1,356.08
$1,356.08

$1,301.87
$1,301.87

$1,401.96
$1,401.96

$1,203.12
$1,203.12
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Answer 1

To calculate the total fixed expenses, we should sum the expenses that are generally considered fixed (those that are consistent each month). Based on the provided list, the fixed expenses are typically the mortgage, utility bill, and credit card minimum payment.

Let's calculate the total for these fixed expenses:

- Mortgage: $1,034.78
- Utility bill: $168.34
- Credit card: $54.21

Now, adding those amounts together:

\[
1,034.78 + 168.34 + 54.21 = 1,257.33
\]

However, if we include khakis (if we consider them a fixed expense for work) and exclude groceries (since they can vary), the calculation will be:

\[
1,034.78 + 168.34 + 54.21 + 45.88 = 1,303.21
\]

Assuming we consider only the true fixed expenses (the mortgage, utility bill, and credit card), the total fixed expenses would be:

- Total Fixed Expenses: **$1,257.33**

If you treat khakis as necessary and stable, then:

- Total Fixed Expenses: **$1,303.21**

Since none of the provided responses match the exact calculations I made based on the standard interpretation of fixed expenses, please let me know how you would like to proceed!