Question

Need help ASAP

"Sam García has a monthly income of $300. After reviewing his expenses he came up with the following categories and their percentages: clothes 30%, food and snacks 23%, cell phone 14%, transportation 10%, gym 10%, movies 8% and apps 5%"

1. Calculate the expenses

2. Calculate Sam's net income

Answer 1

(i) Total expenses = $ 300

(ii) Net income(savings) = $ 0

Explanation:

Total income earned by Sam = $ 300

(i) Expense calculation,

Clothes expense = 30 % = 30 % (300) = $ 90

Food and snacks expense = 23 % = 23 % (300) = $ 69

Cell phone expense = 14% = 14% (300) = $ 42

Transportation expense = 10% = 10% (300) = $ 30

Gym expense = 10% = $ 30

Movies expense = 8% = 8% (300) = $ 24

Apps expense = 5% = 5% (300) = $ 15

Total expenses = (90 + 69 + 42 + 30 + 30 + 24 + 15) = $ 300

(ii) Sam's net income is the profir earned after his expense.

Net income = 300 - 300 = $ 0