To solve each problem, we will carry out the calculations step by step.
(a) Calculate the amount of money that Marcus has for entertainment.
Marcus has a monthly budget of $4200 and allocates 5% for entertainment.
\[ \text{Amount for entertainment} = \text{Net income} \times \text{Percentage for entertainment} \] \[ \text{Amount for entertainment} = 4200 \times 0.05 = 210 \]
So, Marcus has $210 for entertainment.
(b) Last month, Marcus spent $480 on food and going out to eat. We need to find what percent of his monthly income he spent on food.
The formula to find the percent spent is:
\[ \text{Percent spent on food} = \left( \frac{\text{Amount spent on food}}{\text{Net income}} \right) \times 100 \] \[ \text{Percent spent on food} = \left( \frac{480}{4200} \right) \times 100 \] \[ \text{Percent spent on food} = 0.1142857 \times 100 \approx 11.43 \]
Marcus spent approximately 11.43% of his income on food.
(c) Marcus wants to increase the amount he is setting aside for savings from 18% to 20%.
First, we find the amount he currently saves, then the amount he wants to save, and finally the difference.
Current savings: \[ \text{Current savings} = 4200 \times 0.18 = 756 \] New savings: \[ \text{New savings} = 4200 \times 0.20 = 840 \] Increase in savings: \[ \text{Increase in savings} = \text{New savings} - \text{Current savings} = 840 - 756 = 84 \]
Marcus will be saving $84 more each month.
Summary of the results:
- (a) Amount for entertainment: $210
- (b) Percent spent on food: 11.43%
- (c) Additional savings: $84