Victor Malaba has a net income of $1,240 per month. If he spends $150 on food, $244 on a car
payment, $300 on rent, and $50 on savings, what percent of his net income can he spend on other things?
A. 43 percent
B. 300 percent
C. 40 percent
D. 64 percent
PLease don't tellme the answer. I just want to know the steps to figuring it out.
1. Add up the expenses.
2. Subtract from his net income.
3. Divide the difference by the net income.
4. Multiply the decimal by 100 to find the percent.
I'll be glad to check your answer.
C. 40 percent
12-22
To figure out what percent of his net income Victor can spend on other things, you'll need to follow these steps:
1. Calculate the total amount Victor spends on essential expenses such as food, car payments, rent, and savings.
2. Subtract the total amount spent on essential expenses from Victor's net income to find how much he has left for other things.
3. Divide the remaining amount by Victor's net income.
4. Multiply the result by 100 to convert it to a percentage.
So, the formula to calculate the percentage of net income Victor can spend on other things would be:
(Net Income - Total Essential Expenses) / Net Income * 100
By using this formula, you'll be able to determine the percentage of his net income that Victor can use for other expenses.