Read the following prompt and type your response in the space provided.
Look at Samantha's budget below. Find the percentages associated with each category of her budget:
Monthly net income: $4,500
Expenses:
Housing: $900.00
Transportation: $650.00
Utilities: $120.00
Food: $475.00
Savings: $1,600.00
Student Loan Payment: $270.00
Other Expenses: $485.00
Question 7 options:
To find the percentages associated with each category of Samantha's budget, divide the amount spent on each category by her monthly net income and multiply by 100.
Housing: ($900.00 / $4,500) x 100 = 20%
Transportation: ($650.00 / $4,500) x 100 = 14.44% (approximately)
Utilities: ($120.00 / $4,500) x 100 = 2.67% (approximately)
Food: ($475.00 / $4,500) x 100 = 10.56% (approximately)
Savings: ($1,600.00 / $4,500) x 100 = 35.56% (approximately)
Student Loan Payment: ($270.00 / $4,500) x 100 = 6%
Other Expenses: ($485.00 / $4,500) x 100 = 10.78% (approximately)