Edmund is retired with a fixed income of $2100 per month. He lives in a one-bedroom condominium and his mortgage payment is $585 per month. The common fees are $325 per month. He also receives a bi-monthly electricity bill for $140 and a quarterly water bill for $180.
a) Calculate Edmund's fixed monthly accommodations expenses.
b) Calculate Edmunds’s average monthly utility expenses.
a) Edmund's fixed monthly accommodations expenses are $910 ($585 + $325).
b) Edmunds’s average monthly utility expenses are $170 ($140 + $180) / 2.