When preparing her monthly budget,Marge Kent has projected income of $4,600.Each month she pays $1,200 in rent,$60 for life insurance,and $240 for her auto loan.What percentage of her budget goes for these fixed expenses?

Question

Quizplus · Accepted Answer

To find the percentage of her budget that goes to fixed expenses, add up the fixed expenses: $1,200 (rent) + $60 (life insurance) + $240 (auto loan) = $1,500. Then, divide the total fixed expenses by her projected income: $1,500 / $4,600 ≈ 0.3261. Multiply by 100 to convert to a percentage: 32.61%, which rounds to 33%.

When Preparing Her Monthly Budget,Marge Kent Has Projected Income of $4,600.Each