Housing is 21% of the total budget
Step-by-step explanation:
Step 1: List all the categories and the amount spent on them
Housing $1,302
Taxes $1,550
Food $558
Clothing $124
Entertainment $124
Transportation $372
College Savings $558
Retirement Savings $558
Gasoline $248
Emergency Savings $310
Utilities $496
Step 2: Calculate the total amount being spent in a month
Add all the categories
Total = 1302 + 1550 + 558 + 124 +124 + 372 + 558 + 558 + 248 + 310 + 496
Total = 6200
Step 3: Calculate the percentage of amount spent on housing
Percentage = [tex]\frac{Amount spent on housing}{Total Amount spent}[/tex] * 100
Percentage = [tex]\frac{1302}{6400}[/tex] * 100
Percentage = 20.34% rounded up to 21%
Therefore, the amount spent on housing is 21% of the entire budget.
Keyword: Percentage
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