Questions: MULTIPLE-CHOICE QUESTION Which of these is a fixed expense? your minimum credit card payment your monthly rent for housing your electric bill month to month

MULTIPLE-CHOICE QUESTION Which of these is a fixed expense? your minimum credit card payment your monthly rent for housing your electric bill month to month
Transcript text: MULTIPLE-CHOICE QUESTION Which of these is a fixed expense? your minimum credit card payment your monthly rent for housing your electric bill month to month
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Solution

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Answer

The answer is your monthly rent for housing.

Explanation
Option 1: Your minimum credit card payment

A minimum credit card payment can vary based on the outstanding balance on the card. It is not a fixed expense because it can change from month to month depending on how much you owe.

Option 2: Your monthly rent for housing

Monthly rent for housing is typically a fixed expense. It is a set amount that you agree to pay each month as part of a lease or rental agreement, and it does not change unless specified in the contract.

Option 3: Your electric bill month to month

An electric bill is generally considered a variable expense because it can fluctuate each month based on your usage. Factors such as seasonal changes and energy consumption habits can cause the bill to vary.

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