Your housing and fixed expenses are $702.38 /month.

Question

What is your realized income for the month if your expenses
account for 30%? round to the nearest penny

Answer 1

To find your realized income for the month when your expenses account for 30%, we can use the formula:

\[ \text{Realized Income} = \frac{\text{Expenses}}{\text{Expense Percentage}} \]

In this case, your expenses are $702.38 and they make up 30% of your income. So, we convert 30% into decimal form, which is 0.30.

Now we can plug the numbers into the formula:

\[ \text{Realized Income} = \frac{702.38}{0.30} \]

Calculating this:

\[ \text{Realized Income} = 2341.27 \]

Therefore, your realized income for the month is $2341.27.