Question

Michael Bob had a net income of $10,000 a month. His car note was $560 a month. What percent of his income was his car payments

Answer 1

Step 1: Multiply the total income to a whole percentage
560:10000*100 =

Step 2:Multiply the amount of money spent on the car to whole percentage
(560*100):10000 =

Step 3: Divide the result by the total income
56000:10000 = 5.6

Therefore, Michael Bob spends 5.6% of his net income on car note a month.