The Zegen’s want to save for a down payment on a house. The monthly income is $6,000. Their fixed expenses are $3,000 and they plan to keep their flexible expenses to $2,000 a month. Everything remaining will be set aside for their down payment. How much will they be putting aside each month for their new house?

Question

Responses

$1,000
$1,000

None of the answer choices
None of the answer choices

$2,000
$2,000

$3,000

Answer 1

To find out how much the Zegen's will be putting aside each month for their down payment, we can follow these steps:

1. Calculate their total income:

   • Monthly income = $6,000

2. Calculate their fixed expenses:

   • Fixed expenses = $3,000

3. Calculate their flexible expenses:

   • Flexible expenses = $2,000

4. Add their fixed and flexible expenses together:

   • Total expenses = Fixed expenses + Flexible expenses
   • Total expenses = $3,000 + $2,000 = $5,000

5. Subtract their total expenses from their monthly income to find out how much they can save:

   • Amount set aside for down payment = Monthly income - Total expenses
   • Amount set aside for down payment = $6,000 - $5,000 = $1,000

So, the Zegen's can set aside $1,000 each month for their new house.

The correct response is: $1,000