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What is jasmine family average monthly income

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Reference no: EM132966226

Jasmine and their spouse are considering purchasing a larger house for their growing family. Below is a summary of their current combined income and expenses.

Combined Salary (Gross Annually) $125,000

Monthly Mortgage Payment $2,600

Master Card (minimum monthly payment) $1,500

Utilities (Monthly - Heat and Electricity) $250

Car Loan Payment (Monthly) $550

Cable TV (Monthly) $75

Cell-Phone Plan (Monthly) $150

Line of Credit (minimum monthly payment) $350

Property Tax (annual) $3,900

Problem 1: What is Jasmine's family average monthly income?

Option 1: $9,000

Option 2: $10,167

Option 3: $9,805

Option 4: $10,417

Option 5: $9,948

Problem 2: What is their monthly shelter cost?

Option 1: $2,525

Option 2: $3,175

Option 3: $2,792

Option 4: $2,992

Option 5: $3,000

Reference no: EM132966226

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