Select the budget that would most quickly achieve the financial goal of saving [tex]$\$[/tex]6000[tex]$ for college tuition.

\begin{tabular}{|l|r|r|r|r|}
\hline
Monthly Budget & Budget A & Budget B & Budget C & Budget D \\
\hline
Income & $[/tex]\[tex]$1250$[/tex] & [tex]$\$[/tex]1000[tex]$ & $[/tex]\[tex]$1125$[/tex] & [tex]$\$[/tex]1500[tex]$ \\
\hline
Expenses & & & & \\
Rent & $[/tex]\[tex]$200$[/tex] & [tex]$\$[/tex]200[tex]$ & $[/tex]\[tex]$300$[/tex] & [tex]$\$[/tex]0[tex]$ \\
Utilities & $[/tex]\[tex]$70$[/tex] & [tex]$\$[/tex]80[tex]$ & $[/tex]\[tex]$75$[/tex] & [tex]$\$[/tex]0[tex]$ \\
Food & $[/tex]\[tex]$150$[/tex] & [tex]$\$[/tex]250[tex]$ & $[/tex]\[tex]$160$[/tex] & [tex]$\$[/tex]400[tex]$ \\
Cell Phone & $[/tex]\[tex]$0$[/tex] & [tex]$\$[/tex]75[tex]$ & $[/tex]\[tex]$40$[/tex] & [tex]$\$[/tex]110[tex]$ \\
Savings & $[/tex]\[tex]$600$[/tex] & [tex]$\$[/tex]50[tex]$ & $[/tex]\[tex]$200$[/tex] & [tex]$\$[/tex]450[tex]$ \\
Personal Items & $[/tex]\[tex]$120$[/tex] & [tex]$\$[/tex]10[tex]$ & $[/tex]\[tex]$25$[/tex] & [tex]$\$[/tex]50[tex]$ \\
Entertainment & $[/tex]\[tex]$30$[/tex] & [tex]$\$[/tex]100[tex]$ & $[/tex]\[tex]$20$[/tex] & [tex]$\$[/tex]150[tex]$ \\
Car Expenses & $[/tex]\[tex]$0$[/tex] & [tex]$\$[/tex]200[tex]$ & $[/tex]\[tex]$0$[/tex] & [tex]$\$[/tex]250[tex]$ \\
Clothing & $[/tex]\[tex]$20$[/tex] & [tex]$\$[/tex]0[tex]$ & $[/tex]\[tex]$300$[/tex] & [tex]$\$[/tex]50[tex]$ \\
\hline
Net Income & $[/tex]\[tex]$60$[/tex] & [tex]$\$[/tex]35[tex]$ & $[/tex]\[tex]$5$[/tex] & [tex]$\$[/tex]40$ \\
\hline
\end{tabular}

A. Budget A
B. Budget B
C. Budget C
D. Budget D



Answer :

To determine which budget will achieve the financial goal of saving [tex]$6000 for college tuition most quickly, we need to compare the monthly savings of each budget and find out how long it will take to reach the $[/tex]6000 goal for each one.

The data provided includes the monthly savings for each budget:

- Budget A: [tex]$600 per month - Budget B: $[/tex]50 per month
- Budget C: [tex]$200 per month - Budget D: $[/tex]450 per month

We need to calculate the time in months it will take to save [tex]$6000 for each budget. 1. Calculating the time for Budget A: - Savings per month: $[/tex]600
- Time required: [tex]\(\frac{6000}{600} = 10\)[/tex] months

2. Calculating the time for Budget B:
- Savings per month: [tex]$50 - Time required: \(\frac{6000}{50} = 120\) months 3. Calculating the time for Budget C: - Savings per month: $[/tex]200
- Time required: [tex]\(\frac{6000}{200} = 30\)[/tex] months

4. Calculating the time for Budget D:
- Savings per month: [tex]$450 - Time required: \(\frac{6000}{450} \approx 13.33\) months Now we compare the time required for each budget: - Budget A: 10 months - Budget B: 120 months - Budget C: 30 months - Budget D: 13.33 months Among these, Budget A achieves the savings goal most quickly, with 10 months required. Hence, the best budget to achieve the financial goal of saving $[/tex]6000 for college tuition the fastest is:

a. Budget A