Review the Budget Information: Most households make a budget to help with finances each month. For this project we will use the average percentages. At least 65% or your monthly income is for living expenses (such as food, insurance, electricity...) ● At most 25% of your monthly income is for a house payment At most 10% of your monthly income is for a car payment Taylor has a monthly income of $5,000. Complete the table to show the amount of money Taylor should spend for each category. Question Taylor's car payment is only $300. How much more money could he spend on either living expenses or on a house payment? Taylor wants to purchase a car that costs $35,000. He needs a down payment equal to 5% of the cost of the car. How much money does Taylor need for the down payment? The down payment on a house must be equal to or greater than 10% of the cost of the house. Taylor has $40,000 saved to use as a down What is the maximum price for a house based on Taylor's down payment? payment on a house. Response​