Final answer:
Spencer's average monthly net pay is $1,321.43, and after subtracting his monthly expenses, he has $237.02 left for savings, which is approximately 17.93% of his average monthly net pay.
Step-by-step explanation:
To calculate Spencer's average monthly net pay, we first multiply his average weekly net pay by the average number of weeks in a month. Since there are approximately 4.33 weeks in a month (52 weeks/year divided by 12 months/year), Spencer's average monthly net pay is calculated as follows:
Monthly net pay = Weekly net pay × 4.33
Monthly net pay = $305.18 × 4.33 = $1,321.43
Now, subtract Spencer's monthly expenses from his average monthly net pay to find out how much he has left over for savings:
Savings = Monthly net pay - Monthly expenses
Savings = $1,321.43 - $1,084.41 = $237.02
Finally, to find out what percent of his average monthly net pay is left for savings, divide the savings by the monthly net pay and multiply by 100:
Percentage for savings = (Savings / Monthly net pay) × 100
Percentage for savings = ($237.02 / $1,321.43) × 100 = 17.93%
Therefore, approximately 17.93% of Spencer's average monthly net pay is left over for savings each month.