Question

Housing costs are what percentage of monthly net income? Use the budget sheet to calculate. Round your answer to the nearest whole percent.

Answer 1

net income is 1875
the expenses are listed in the table.
to find the percentage, divide the cost of the expense by the net income:

housing = 430 / 1875 = 0.229 = 22.9%
food = 300 / 1875 = 0.16 = 16%
utilities = 125 / 1875 = 0.066 = 6.6%
transportation = 320 / 1875 = 0.17 = 17%
savings = 500 / 1875 = 0.266 = 26.6 %
other = 200 / 1875 = 0.106 = 10.6%

round the percentages to whole numbers if needed