A family spends 20% of its monthly income on food, 23% on rent, and 42% on other expenses and saves the balanc
A family spends 20% of its monthly income on food, 23% on rent, and 42% on other expenses and saves the balance. If the family saves $360 per month, what is its monthly income?7 years ago - 12 answers
20% on food, 23% of rent, 42% on other, leaves 15% for savings. $360 per month is the savings, then $2400 is the monthly income.
2400 monthly income
food = 2400 x 20% = $ 480
rent = 2400 x 23% = $ 552
other = 2400 x 42% = $1,008
savings = 2400 x 15% = $ 360
Total = $2,400
Saving is very inportant $360 a month who care what the rest isby Gerald - 7 years ago
Source(s)by sweet girl - 7 years ago
100% - 23% - 42% - 20% = 15%
Income * 0.15 = $360
Divide 360 by 0.15 = $2400
$360 is 5%
720 is 10%
Source(s)by pinkyismygirlfriendniluvhur - 7 years ago
Next ta fuck all by the sound of it,by Shazzzz - 7 years ago
I hope it's $2400/mo.by Sharon - 7 years ago
do you want us to make your math homework?
please do mine.
annual spending 169,000
annual earnings -3,050
2400by Bob D - 7 years ago
is this for your school or for your neighbor?by earth angel - 7 years ago
these silly made up questions for schools teach all the wrong things.
First, this family is paying NO taxes yet has income. This is so NOT America.
Second, only 23% for rent equals $552 a month. Please excuse me, but you can't rent a hovel in any American city or suburb [where almost all the students are] for $552 a month, much less space big enough for a family.
And then there's food. $480 a month for food !! unbelievable. just flat unbelievable. "Family" almost certainly means at least three people. $111 a week for three people's food hasn't been real in America for at least 15 years, more like 30.
In fact, 30 years ago is when I made 'only' 2400 a month and I was just starting out at the time -- didn't have a family. Any modern two income family makes more than 2400 a month.
I'm afraid your textbook is so badly out of date that it would be better used as charcoal starter or to train the new puppy.
Source(s)by Spock (rhp) - 7 years ago
15% - $360 RULE OF 3
100% - X