Nancy Is Paid $2,000 Biweekly (26 Pays Per Year)in Her

question 10

Essay

Nancy is paid $2,000 biweekly (26 pays per year)in her job as a market researcher.Her expenses are $400 per month rent on her apartment,$100 per month for food,and $100 per month for utilities.Nancy also has student loans on which she makes monthly payments of $200.Nancy is considering the purchase of a new car,but also is very determined to save at least 50% of any budget surplus each month.If Nancy adheres to this savings plan,how much would she have available each month for a car payment.Round to the nearest dollar.
(a)$3533
(b)$1766
(c)$1600
(d)None since there is a budget deficit

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