Question

A) Determine what percent of Steven's net monthly income is being spent in each category.

Answer 1

To determine percent of Steven's net monthly income is being spent in each category.​

The total net monthly income = 800+300+100+600+200+100+150=2250

Each percent can be calculated by dividing each of steven expenses by total and multiply by 100

(1)

`\begin{gathered} \text{Housing and utilities =}\frac{\text{ 800}}{2250}*100 \\ \text{Housing and utilities }=\text{ 35.6 \%} \end{gathered}`

(2)

`\begin{gathered} \text{Food and clothing = }\frac{\text{300}}{2250}*100 \\ \text{Food and clothing = 13.33 \%} \end{gathered}`

(3)

`\begin{gathered} \text{Health and personal care = }\frac{1\text{00}}{2250}*100 \\ \text{Health and personal care = 4.44 \%} \end{gathered}`

(3)

`\begin{gathered} \text{Health and personal care = }\frac{1\text{00}}{2250}*100 \\ \text{Health and personal care = 4.44 \%} \end{gathered}`

(5)

`\begin{gathered} \text{Health and personal care = }\frac{1\text{00}}{2250}*100 \\ \text{Health and personal care = 4.44 \%} \end{gathered}`

(6)

`\begin{gathered} \text{Savings = }\frac{1\text{00}}{2250}*100 \\ \text{Savings = 4.44 \%} \end{gathered}`

(7)

`\begin{gathered} \text{Miscellaneous = }\frac{15\text{0}}{2250}*100 \\ \text{Miscellaneous = 66.67 \%} \end{gathered}`