Question

Compute the total cost per year of the following pair of expenses. Then complete the sentence: On an annual basis, the first set of expenses l Vern buys four lottery tickets each week at a cost of $5 each and spends 5650 per year on his textbooks % of the money spent to buy textbooks On an annual basis, the money spent on lottery tickets is (Round to the nearest percent as needed)

Answer 1

% of the money spent to buy textbooks On an annual basis = 18.40%

The total amount spent on the tickets per year = $1040

Explanation:

Given:

Number of lottery tickets bought per week = 4

Cost of each lottery ticket = $5

Amount spent on books per year = $5650

Now,

The total amount spent on the tickets per year

= Total number of weeks per year × 4 × $5

= 52 × 4 × $5

= $1040

% of the money spent to buy textbooks On an annual basis

=
`\frac{\textup{Amount spent on lottery tickets per year}}{\textup{Amount spent on buying books per year}}*100`

=
`\frac{\textup{1040}}{\textup{5650}}*100`

= 18.40%