Question

If Tara spends $219 a month for her car payment and she makes $3200 a month what percent of her monthly income is spent on her car payment

Answer 1

The percent is calculated as the ratio of the monthly paymen to the total income times 100.

Percent, % = ( [monthly car payment] / [ monthly income] ) * 100

% = ($ 219 / $ 3200) * 100 ≈ 6.8

Answer: approximately 6.8% of Tara's monthly income is spent of her car payment.