A household receives a pension of £1,450 a month and £540 a year in interest on its savings. It has savings worth £18,500 and shares worth £7,200, and owes £4,400 on a loan.
Calculate the household's annual income and its wealth.
64 exam-style questions on OCR GCSE Economics 3.3 Fair distribution of income, covering 3.3.1 Distribution of income and wealth, 3.3.2 Calculate income and wealth, and 3.3.3 Causes and consequences of income differences. Each one has a worked solution and a mark scheme showing where the marks go.