Question

What percentage of the budget is spent on housing? Category Amount spent per month Housing $1,302 Taxes $1,550 Food $558 Clothing $124 Entertainment $124 Transportation $372 College Savings $558 Retirement Savings $558 Gasoline $248 Emergency Savings $310 Utilities $496 Question 2 options: 21% 15% 17% 30%

Answer 1

21%

Explanation:

step 1

Find out the total amount of the budget

`(\$1,302+\$1,550+\$558+\$124+\$124+\$372+\$558+\$558+\$248+\$310+\$496)=\$6,200`

step 2

To find out what percentage of the budget is spent on housing, divide the amount spent on housing by the total budget and multiply by 100

`( \$1,302/ \$6,200)100=21\%`