Read the following prompt and type your response in the space provided.
Look at Jonathan's budget below. Find the percentages associated with each category of his budget:
Monthly net income: $4,500
Expenses:
Housing: $1,800.00
Transportation: $800.00
Utilities: $175.00
Food: $550.00
Savings: $300.00
Student Loan Payment: $300.00
Other Expenses: $575.00
To find the percentages associated with each category of Jonathan's budget, we need to divide each expense by his monthly net income and then multiply by 100.
Housing: (1800 / 4500) * 100 = 40%
Transportation: (800 / 4500) * 100 = 17.8%
Utilities: (175 / 4500) * 100 = 3.9%
Food: (550 / 4500) * 100 = 12.2%
Savings: (300 / 4500) * 100 = 6.7%
Student Loan Payment: (300 / 4500) * 100 = 6.7%
Other Expenses: (575 / 4500) * 100 = 12.8%