Answer:
The percentage of the total annual expenses for product payment costs is <u>11.49%</u> .
Step-by-step explanation:
Given:
Annually costs on product company spends = $34000 and total annual expenses = $296000.
Now, to get the percentage of the total annual expenses for product payment costs. We will calculate the percentage, $34000 by $296000:
According to question:
![\frac{34000}{296000} \times 100](https://tex.z-dn.net/?f=%5Cfrac%7B34000%7D%7B296000%7D%20%5Ctimes%20100)
![=0.11486\times 100](https://tex.z-dn.net/?f=%3D0.11486%5Ctimes%20100)
![=11.486](https://tex.z-dn.net/?f=%3D11.486)
Now, rounding to the nearest hundredth of a percent to 11.486 will be 11.49. As we see 6 in the thousandth place and 8 in hundredth place so rounding to decimal in hundredth place will change 8 into 9.
Therefore, the percentage of the total annual expenses for product payment costs is 11.49% .