Hank is opening a special investment CD account that offers 0.45% interest compounded monthly. The account requires a minimal in
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Explanation:
First, you need to add all of the numbers to find the total budget. The total budget is <u>$1,116.</u> Then, to find the percentages, you need to divide each sections' money by the budget. For example, for 'contributions', you will do $175.76/$1,116 and get 0.157. But, this is a decimal. To make it into a percentage, you move the decimal point 2 spaces to the right. .157 = 15.7% So, for the 'contributions' section, the answer is 15.7%. Another example. For the 'housing' section, the amount was $350.84. Divide that by $1,116.
Move the decimal point <em>2 spaces to the right</em> -- 31.4%
<u>I hope you understand how I got these answers</u>
<em>Other Answers:</em>
Transportation: 4.5%
Clothing: 2.7%
Medical Expenses: 3.1%
Food: 17.9%
Taxes: 9.5%
Miscellaneous: 15.1%