We can find this by finding common fractions so as to add them together. 1/4 and 2/3 can be equivalent to 3/12 and 8/12, respectively. So when those two are added, it comes out to 11/12. That means that 11/12ths of Jon's budget is equal to $242, now we need to find out the value of 12/12 of his budget by finding the missing 1/12. In your calculator you can multiply (1/12) by $242 and add that number (20.17) to 242, and you'll get 262.16666 rounded up to 262.17.
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