Question

Read the following prompt and type your response in the space provided.
Look at Samantha's budget below. Find the percentages associated with each category of her budget:



Monthly net income: $4,500


Expenses:

Housing: $900.00

Transportation: $650.00

Utilities: $120.00

Food: $475.00

Savings: $1,600.00

Student Loan Payment: $270.00


Other Expenses: $485.00

Question 7 options:

Answer 1

To find the percentages associated with each category of Samantha's budget, divide the amount spent on each category by her monthly net income and multiply by 100.

Housing: ($900.00 / $4,500) x 100 = 20%

Transportation: ($650.00 / $4,500) x 100 = 14.44% (approximately)

Utilities: ($120.00 / $4,500) x 100 = 2.67% (approximately)

Food: ($475.00 / $4,500) x 100 = 10.56% (approximately)

Savings: ($1,600.00 / $4,500) x 100 = 35.56% (approximately)

Student Loan Payment: ($270.00 / $4,500) x 100 = 6%

Other Expenses: ($485.00 / $4,500) x 100 = 10.78% (approximately)