Practice:

(1) In addition to your monthly expenses, you have the following college expenses that you pay
twice a year: $3500 for tuition each semester, $750 in student fees each semester, and $800 for
textbooks each semester. How should you handle these expenses in computing your monthly
budget?

2) Sarah has recently begun keeping her spending under better control, but she still can't fully
pay off her credit card. She maintains an average monthly balance of about $1200, and her card
charges a 18% annual interest rate, which it bills at a rate of 1.5% per month. How much is she
spending on credit card interest?

(3) In addition to your monthly expenses, you have the following college expenses that you pay
twice a year: $3000 for tuition each semester, $850 in student fees each semester, and $700 for
textbooks each semester. How should you handle these expenses in computing your monthly
budget?

(4) Sarah has recently begun keeping her spending under better control, but she still can't fully
pay off her credit card. She maintains an average monthly balance of about $1000, and her card
charges a 15% annual interest rate, which it bills at a rate of 1.25% per month. How much is she
spending on credit card interest?