Question

Jessica earns $800 each month working a part-time job. She wants to save a total of $2,400 for college over a one-year period. What percentage of Jessica's total monthly budget should go to her college savings to meet her goal?

Answer 1

25% should go

Explanation:

If she wants to save $2,400;

Then in a month, she should save 2400/12 = 200

So now we need the amount of her monthly earnings will this savings be

That will be;

200/800 * 100%

= 1/4 * 100% = 25%