Kyle's net annual salary is $88 673. His annual fixed costs of owning his truck are $18838.45. What percent of his net annual salary are his fixed truck costs? (round to nearest whole percentage)

Answer 1

To calculate the percentage of Kyle's net annual salary that is spent on fixed truck costs, we can use the following formula:

Percentage = (Fixed Costs / Net Salary) x 100

Percentage = ($18838.45 / $88,673) x 100
Percentage = 21.23%

Therefore, about 21% of Kyle's net annual salary is spent on fixed truck costs.