Answered

Discover new perspectives and gain insights with IDNLearn.com. Get step-by-step guidance for all your technical questions from our knowledgeable community members.

Is a $250 gift for his friend over or under the 12% spending guideline for gifts

Is A 250 Gift For His Friend Over Or Under The 12 Spending Guideline For Gifts class=

Sagot :

Sqdancefanidn

9514 1404 393

Answer:

  under

Step-by-step explanation:

On average, there are 4 1/3 weeks in a month, so Andy's salary is equivalent to ...

  (4 1/3 wk/mo)($975/wk) = $4225/mo

The spending guidelines are that no more than 12% should be spent on gifts and entertainment, so Andy's gift budget is ...

  12% × $4225/mo = $507/mo

A gift of $250 falls well within Andy's monthly gift budget limit of $507.

_____

Additional comment

Andy's housing allowance is about 30% of $4225, or $1267.50. His mortgage expense is over his budget amount by $82.50. Even if Andy takes this from his gift budget, he still has a sufficient amount for the birthday gift.

Thank you for using this platform to share and learn. Keep asking and answering. We appreciate every contribution you make. Find precise solutions at IDNLearn.com. Thank you for trusting us with your queries, and we hope to see you again.