Question

25. A company spends $34,000 annually on product payment costs. Its

total annual expenses are $296,000. About what percentage of the
total annual expenses is for product payment costs? Round to the
nearest hundredth of a percent.​

Answer 1

The percentage of the total annual expenses for product payment costs is 11.49% .

Explanation:

Given:

Annually costs on product company spends = $34000 and total annual expenses = $296000.

Now, to get the percentage of the total annual expenses for product payment costs. We will calculate the percentage, $34000 by $296000:

According to question:

`(34000)/(296000) * 100`

`=0.11486* 100`

`=11.486`

Now, rounding to the nearest hundredth of a percent to 11.486 will be 11.49. As we see 6 in the thousandth place and 8 in hundredth place so rounding to decimal in hundredth place will change 8 into 9.

Therefore, the percentage of the total annual expenses for product payment costs is 11.49% .