Question

When preparing her monthly budget, marge kent has a total spending allowance of $4,600. each month she pays $1,200 in rent, $60 for cable television and internet service, and $240 for her auto loan. what percentage of her budget goes for these fixed expenses? 6 percent 12 percent 27 percent 33 percent 40 percent?

Answer 1

The rent, cable bill, and auto loan are fixed expenses that add up to $1500. $1500 divided by the $4600 total that she has is .326 so Margie spends about 33% of her budget on these fixed expenses. That is about one third of her total budget going to fixed expenses.