3
QuizMultiple Choice

Travel Expenses

Question 3 • 26-27 Ignite Financial Literacy Personal Finance - EL3403

Kevin is calculating his expenses for his planned trip to Colombia. He has a total budget of $2,106,559 (2,106,559 Colombian pesos) for this trip. If his lodging will cost him $313,597, his plane ticket will cost him $891,922, a Spanish/English phrasebook costs him $91,438, and he has allocated $348,792 for food, how much does he have remaining for spending money and other miscellaneous expenses?

Answer
A
$1,645,749
B
$1,104,496
C
$476,839
D
$460,810

Explanation

Add the planned expenses: $313,597 + $891,922 + $91,438 + $348,792 = $1,645,749. Subtract this from Kevin’s total budget: $2,106,559 − $1,645,749 = $460,810, so he has $460,810 remaining for spending money and other miscellaneous expenses.

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