Cathy budgets 23% of her income for housing and 21% of her income
for food. If she earns $18,000 per year, how much must she budget
monthly for housing and food?
a. $792
b. $660
c. $7,920
d. $61.30
(0.23 + 0.21) * 18,000 = ?
Divide the above answer by 12.
0.23 + 0.21 = 0.44 * 18000 = 7920/12= 660
Thank you Ms.Sue! You are awesome and a big help. Thank you, thank you!
:-)
You are very welcome, Caleb.
To find out how much Cathy must budget monthly for housing and food, we first need to calculate her monthly income by dividing her annual income by 12.
Cathy's monthly income = $18,000 / 12 = $1,500
Next, we'll calculate how much Cathy should budget for housing by multiplying her monthly income by the percentage she budgets for housing.
Housing budget = $1,500 x 23% = $345
Similarly, we'll calculate how much Cathy should budget for food by multiplying her monthly income by the percentage she budgets for food.
Food budget = $1,500 x 21% = $315
Finally, we calculate the total monthly budget for housing and food by adding the housing budget and the food budget together.
Total monthly budget = $345 + $315 = $660
Therefore, Cathy must budget $660 monthly for housing and food.
Hence, the answer is (b) $660.