In one year, your expenses of $52,000 are 91% of your total income. You intend to use the surplus to buy a used car. How much can you afford to pay for a used car? How much is your surplus income?
a) Afford to pay for a used car: $5,846.15, Surplus income: $4,680.00
b) Afford to pay for a used car: $6,043.96, Surplus income: $5,270.00
c) Afford to pay for a used car: $6,263.74, Surplus income: $5,485.00
d) Afford to pay for a used car: $6,492.75, Surplus income: $5,695.00