Homework Answers
1)TABLE SHOWING EXPENSES
| week 1 | week 2 | week 3 | week 4 | |
| electricity | € 15.00 | € 19.00 | € 20.00 | € 20.00 |
| food | € 20.00 | € 30.00 | € 28.00 | € 23.00 |
| water | € 10.00 | € 7.00 | € 3.00 | € 8.00 |
| transport | € 30.00 | € 30.00 | € 30.00 | € 30.00 |
| shopping | € 15.00 | € 14.00 | € 7.00 | € 18.00 |
| gifts | € 10.00 | € 12.00 | € 1.00 | |
| TOTAL | € 100.00 | € 100.00 | € 100.00 | € 100.00 |
2) MONTHLY EXPENSE ACCOUNT
| week 1 | week 2 | week 3 | week 4 | |
| electricity | € 10.00 | € 18.00 | € 20.00 | € 21.00 |
| food | € 20.00 | € 25.00 | € 24.00 | € 20.00 |
| water | € 10.00 | € 7.00 | € 3.00 | € 8.00 |
| transport | € 30.00 | € 30.00 | € 27.00 | € 25.00 |
| shopping | € 10.00 | € 10.00 | € 7.00 | € 16.00 |
| gifts | € 10.00 | € 9.00 | ||
| TOTAL | € 90.00 | € 90.00 | € 90.00 | € 90.00 |
| SAVINGS | € 10.00 | € 10.00 | € 10.00 | € 10.00 |
monthly savings is € 40.00
Lets assume monthly interest to be 1%.
MONTHLY SAVINGS ACCOUNT for 1 year 6 months.
| month | monthly deposit at the beginning of month | monthly saving at the end of month | interest at the end of month on deposit |
| 1 | € 40.00 | ||
| 2 | € 40.00 | 40 | € 0.40 |
| 3 | € 80.40 | 40 | € 0.80 |
| 4 | € 121.20 | 40 | € 1.21 |
| 5 | € 162.42 | 40 | € 1.62 |
| 6 | € 204.04 | 40 | € 2.04 |
| 7 | € 246.08 | 40 | € 2.46 |
| 8 | € 288.54 | 40 | € 2.89 |
| 9 | € 331.43 | 40 | € 3.31 |
| 10 | € 374.74 | 40 | € 3.75 |
| 11 | € 418.49 | 40 | € 4.18 |
| 12 | € 462.67 | 40 | € 4.63 |
| 13 | € 507.30 | 40 | € 5.07 |
| 14 | € 552.37 | 40 | € 5.52 |
| 15 | € 597.90 | 40 | € 5.98 |
| 16 | € 643.88 | 40 | € 6.44 |
| 17 | € 690.31 | 40 | € 6.90 |
| 18 | € 737.22 | 40 | € 7.37 |
| amount after 1 yr 6 months | € 784.59 |
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