4
QuizMultiple Choice

Lesson 2: Debt Management

Question 4 • [PERFIN] Personal Finance, Sem 2 (26-27)

Xi-ling has a net income that is 5% of her monthly salary of $2,315. Xi-ling would like to keep a net income of $50 and put any additional money towards paying down debt. How much more can Xi-ling put towards paying down debt each month?

Answer
A
$55.75
B
$65.75
C
$115.75
D
$165.75

Explanation

Xi-ling’s net income is 5% of $2,315: 0.05 × $2,315 = $115.75. After keeping $50, she can put $115.75 − $50 = $65.75 toward debt each month, which is choice B.

AI-written and checked against the verified answer.

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