Question

if your income is $3,060 a month and you plan to budget 3/20 of your income for rent and 1/2 of your income for food how much do you plan to spend each month on these two items? simplify your answer

Answer 1

In order to calculate the amount spend in each item, let's calculate the corresponding fraction of the total value.

For rent, we have:

`(3)/(20)\cdot3060=(3)/(2)\cdot306=3\cdot153=459`

And for food, we have:

`(1)/(2)\cdot3060=1530`

So adding these costs, we have:

`459+1530=1989`

So we plan to spend $1989 on these two items.