Question

Amy has a monthly income of $3770 and incurs $899 in housing expenses each month. what percent of her monthly budget goes toward housing?

Answer 1

Amy spends approximately 23.85% of her monthly income on housing expenses. This is calculated by dividing her housing expenses by her monthly income and then multiplying by 100.

Step-by-step explanation:

To find out what percent of Amy's monthly budget goes toward housing, we need to divide her housing expenses by her total monthly income and then multiply by 100 to convert it into a percentage. We use the following formula: (Housing Expenses ÷ Total Monthly Income) × 100 = Percentage of Income for Housing.

So for Amy, it will be: ($899 ÷ $3770) × 100 = 23.85%.

This means that Amy spends approximately 23.85% of her monthly income on housing expenses.