Complete the sentence: on an annual basis the first set of expenses is ___% of the second set of expenses. Elena spends $4 per day on a coffee at the neighborhood cafe and $340 per month on food
On an annual basis, the first set of expenses is 40% of the second set of expenses.
To determine the percentage of the first set of expenses compared to the second set on an annual basis, we need to convert the monthly expenses into an annual amount.
First, let's calculate the annual coffee expenses:
Elena spends $4 per day on coffee, so in a month (assuming 30 days) she spends:
$4/day * 30 days/month = $120/month
Now, let's calculate the annual food expenses:
Elena spends $340 per month on food.
To convert this into an annual amount:
$340/month * 12 months/year = $4080/year
Now, we can calculate the percentage of the first set of expenses (coffee) compared to the second set of expenses (food) on an annual basis:
($120/year / $4080/year) * 100 = 2.94%
Therefore, on an annual basis, the first set of expenses (coffee) is approximately 2.94% of the second set of expenses (food).
To complete the sentence accurately, we need to find the proportion of the first set of expenses (coffee) to the second set of expenses (food) on an annual basis.
Let's calculate the first set of expenses on an annual basis:
Coffee expense per day = $4
Days in a year = 365 (assuming it's not a leap year)
Coffee expense per year = Coffee expense per day * Days in a year
= $4 * 365
= $1,460
Next, let's calculate the second set of expenses on an annual basis:
Food expense per month = $340
Months in a year = 12
Food expense per year = Food expense per month * Months in a year
= $340 * 12
= $4,080
Now, to find the proportion of the first set of expenses to the second set of expenses on an annual basis, divide the first set of expenses by the second set of expenses:
Proportion = (Coffee expense per year / Food expense per year) * 100
Proportion = ($1,460 / $4,080) * 100
= 0.3578 * 100
= 35.78%
Therefore, on an annual basis, the first set of expenses (coffee) is approximately 35.78% of the second set of expenses (food).