Question

Yolanda and Josha Spezzano have a combined monthly gross income of $5,000.00. Last year they paid$11,841.20 in mortgage payments, $681.00 for insurance premiums, and$2,896.32 in real estate taxes. They had these monthly expenses: $58.30 for cell phone,$115.50 for electricity, $99.60 for telephone, Internet, cable bundle service,$146.00 for gas heat, and $56.60 for water. (a) What was their average monthly housing cost for last year? (b) Was it within the 35% recommendation?

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a) $11,841.20÷12+$681.00÷12+$2,896.32÷12+$58.30+$115.50+$99.60+$146.00+$56.60=$1,760.88\$ 11,841.20\div 12 + \$ 681.00\div 12 + \$ 2,896.32\div 12 + \$ 58.30 + \$ 115.50 + \$ 99.60 + \$ 146.00 + \$ 56.60 = \$ 1,760.88

The total monthly cost is the sum of all costs.

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