Question

Look at Jerry's monthly budget below. What percentage of Jerry's net income is spent on housing?

Net Monthly Expenses:. $2,970.00


Expenses:


Housing: $750.00
Utilities: $120.00
Food: $450.00
Transportation: $650.00
Healthcare Expenses: $200.00
Savings: $300.00
Other Expenses: $500.00


Total Monthly Expenses:. $2,970.00



A 33.8%
B 25.3%
C 4%
D 75%

Answer 1

Answer: B 25.3%

Explanation and method:

Jerry’s budget is given below he spends the following Expenses:

Housing: $750.00

Utilities: $120.00

Food: $450.00

Transportation: $650.00

Healthcare Expenses: $200.00

Savings: $300.00

Other Expenses: $500.00

When we add the expenses up we get:

Total Monthly Expenses: $2,970.0

Now to find out how much jerry spent on housing we will take the amount spent on housing which is $750.00

And divide it by the Total Monthly Expenses $2,970.0

Hence, 750/2870*100 will give us the percentage which is 23.25%