Question

Look at Jerry's monthly budget below. What percentage of Jerry's net income is put into his savings?


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



10%

25%

87%

18%

Answer 1

Percentage of net income = (Amount spent / Total amount) x 100

Percentage of net income = (120 / 2970) x 100 = 0.040404... x100 = 4.04%
Round 4.04 and you get 4%

Final answer: 4%