AnswersCMS 2026-2027 Economics and Personal Finance INITIAL CREDITMoney and Credit Management — TestQuestion 20
20
QuizMultiple Choice

Money and Credit Management — Test

Question 20 • CMS 2026-2027 Economics and Personal Finance INITIAL CREDIT

Benito’s family is thinking of relocating from Los Angeles to Oakland to save money. They set up a budget comparing the cost of living for both cities. Oakland Los Angeles Budget Item Cost Cost Housing $565 $1,200 Food $545 $655 Health Care $245 $495 Taxes $450 $625 Other Necessities $350 $495 Monthly Total How much money will they save monthly by the move to Oakland?

Answer
A
$1,315
B
$1,560
C
$1,765
D
$1,665

Explanation

Oakland’s monthly costs total $2,155: $565 + $545 + $245 + $450 + $350. Los Angeles’s costs total $3,470: $1,200 + $655 + $495 + $625 + $495. The family would save $3,470 − $2,155 = $1,315 per month, so the answer is A, $1,315.

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