Willie gets paid $1000 every two weeks and follows the same spending and saving plan unless an emergency arises.
the first thing willie does is to immediately put $350 in his savings account.
next, using online bill pay through his bank, willie spends about $300 on bills such as his cell phone, electricity, and rent. willie
withdraws $150 in cash for daily expenses and leaves the remaining amount ($100) in his checking account
es
based upon the information about willie's spending and saving habits, which statement is true?
willie's annual household income is approximately $55,000
willie's income is used exclusively as a medium of exchange for goods and
services
willie operates on a 'cash only" basis, which is a very smart personal
finance decision
willie allocates 5350 every two weeks as a store of value in his savings
account