The figure below summarizes the national average spending patterns for people of different ages.
Percentage of Spending by Category and Age Group Daniela is 29 years old and spends $450 per month on rent, while her monthly salary is $2300.
a) What percent of Daniela's income does she spend on housing? (Round your answer to the nearest whole percent.)
b) Is Daniela's spending pattern equal to, above or below the national average?
a) 450/2300 = 45/230 = 20%
b) No figure with the national average. Cannot copy and paste here.
a) To find the percentage of Daniela's income spent on housing, divide her monthly rent by her monthly salary:
Percentage spent on housing = (Rent / Salary) * 100
In this case, her monthly rent is $450 and her monthly salary is $2300:
Percentage spent on housing = (450 / 2300) * 100
= 0.1956 * 100
≈ 19.56%
Rounded to the nearest whole percent, Daniela spends approximately 20% of her income on housing.
b) To determine whether Daniela's spending pattern is equal to, above, or below the national average, you would need the information about national average spending patterns for comparison. Without that information, it is not possible to determine how Daniela's spending compares to the national average.
To answer part (a), we need to calculate the percentage of Daniela's income that she spends on housing.
To do this, we divide Daniela's monthly rent by her monthly salary and then multiply by 100 to convert it to a percentage.
Here's the calculation:
Percentage of income spent on housing = (Monthly rent / Monthly salary) * 100
Substituting the given values:
Percentage of income spent on housing = ($450 / $2300) * 100
Now let's calculate this:
Percentage of income spent on housing = 0.1956 * 100
Rounding the answer to the nearest whole percent:
Percentage of income spent on housing = 20%
Therefore, Daniela spends 20% of her income on housing.
To answer part (b), we need more information about the national average spending patterns. Unfortunately, the information provided in the question is not sufficient to make a comparison between Daniela's spending pattern and the national average.