Answer:
Dave and Anna:
1. Income highlight:
combined take home pay of $900/week
Total income: 4(900) - because 4 weeks in most months = $3600
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2. Expense highlights:
bi-weekly mortgage of $675
property taxes of $1800
Car expenses $160
Car insurance: $128
House insurance: $35
Saving for kids: $200
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Expense calculations:
Mortgage bi-weekly = 675 x 2 = $1350/month
Property taxes = 1800/12 months/year = 150/month
everything else is already monthly
1350 + 150 + 160 + 128 + 35 + 200 = 2,023
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income - expenses
$3600 - 2023 = $1,577 surplus
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Jacob:
Income highlights:
Canada Pension Plan $848/month
Old Age Security: $484/month
Total income: $1332
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Expense highlights:
property tax: $3000/yr = $250/month
burial expenses: $100/month (for 6 more months)
golfing: $500/year = $41.67/month
bowling: $100/year = $8.33/month
Total expenses: 250 + 100 + 41.67 + 8.33 = 400
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Income - expenses:
1332 - 400 = $932 surplus
