29.1k views
0 votes
What is the total annual income if $28,600 is allocated for auto and insurance combined, with 10% dedicated to insurance and 12% to auto?

A) $19,772
B) $23,284
C) $28,600
D) $32,116

User Icebreaker
by
8.0k points

1 Answer

3 votes

Final answer:

To calculate the total annual income, the combined percentage of 22% for both auto and insurance expenses was used to find that 22% of the total income equals $28,600. The correct answer is C) $28,600.

Step-by-step explanation:

To calculate the total annual income based on a specific allocation for auto and insurance expenses, we need to determine the percentage of these expenses in relation to the total income.

The question states that $28,600 is allocated for both auto and insurance combined, with 10% for insurance and 12% for auto. Hence, the combined percentage dedicated to auto and insurance is 10% + 12% = 22%. To find the total annual income, we can set up a proportion where 22% of the total income equals $28,600:

0.22 × Total Income = $28,600

Next, we solve for the total income:

Total Income = $28,600 / 0.22

Total Income = $130,000

This amount represents the entire income required to allocate $28,600 to auto and insurance expenses based on their respective percentages.

User Feodor Fitsner
by
7.6k points
Welcome to QAmmunity.org, where you can ask questions and receive answers from other members of our community.

9.4m questions

12.2m answers

Categories