Choose the answer.
Look at Jerry's monthly budget below. What percentage of Jerry's net income is spent on transportation?
Net Monthly Income: $2,970.00
Expenses:
Housing: $750.00
Utilities: $120.00
Food: $450.00
Transportation: $650.00
Healthcare expenses: $200.00
Savings: $300.00
Other expenses: $500.00
Total Monthly Expenses: $2,970.00
Question 2 options:
21.9%
86.7%
25.3%
28%
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To calculate the percentage of Jerry's net income spent on transportation, we divide the transportation expenses by the net monthly income and then multiply by 100.
Transportation expenses: $650.00
Net monthly income: $2970.00
(650/2970) * 100= 21.9%
Therefore, the answer is 21.9%.