Your parents have been advised to save 5% of their income for your college education, which would include money for housing, tui

Question

3 years ago

8

Your parents have been advised to save 5% of their income for your college education, which would include money for housing, tui

tion, books, and fees. How much would your parents have saved in one year, following the recommended 5%, if they had an average household income of $48,948? Show your work

Mathematics

2 answers:

marishachu [46] · Answer 1 · 2022-04-11T21:24:30+03:00

marishachu [46]3 years ago

7 0

Answer:

2447.40

Step-by-step explanation:

smart

Rainbow [258] · Answer 2 · 2022-04-11T22:28:42+03:00

Rainbow [258]3 years ago

4 0

Answer:

$2447.40

Step-by-step explanation:

Find 5% of average household income to find the savings of your parents in one year.

Savings of your parents in one year: $48,948 x 5/100

Savings of your parents in one year: $48,948 x 0.05

Savings of your parents in one year: $2447.40