Niket is creating a personal budget. He plans to save 20% of his income. If he has a monthly income of $3,500, how much money does he intend to save each month

Answer 1

To find out how much Niket intends to save each month, you can calculate 20% of his monthly income.

Here's the calculation:

1. Convert the percentage to a decimal: \( 20% = 0.20 \)

2. Multiply his monthly income by this decimal: \[ \text{Savings} = \text{Income} \times 0.20 \] \[ \text{Savings} = 3,500 \times 0.20 = 700 \]

Niket intends to save $700 each month.