Choose the answer.
Look at Jerry's monthly budget below. What percentage of Jerry's net income is budgeted for healthcare expenses?
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 3 options:
18%
10%
67%
6.7%
To find the percentage of Jerry's net income budgeted for healthcare expenses, divide the healthcare expenses by the net monthly income and multiply by 100:
Healthcare expenses / Net Monthly Income * 100
$200.00 / $2,970.00 * 100 = 6.73%
Therefore, the answer is 6.7%.