Ashley lives in a condominium in downtown Toronto and works as a business analyst. He earns an annual take-home salary of $61,200, and every month he spends $1,500 on rent, $500 on car expenses, $200 on a line-of-credit interest payment, $400 on miscellaneous expenses, and saves $2,500. a. What percent of his monthly take-home salary are his monthly expenses? % Round to two decimal places. b. His financial advisor suggested he invest 27% of his take-home salary in a mutual fund. What percent of his current savings would this amount be? %E Round to two decimal places.
Ashley lives in a condominium in downtown Toronto and works as a business analyst. He earns an annual take-home salary of $61,200, and every month he spends $1,500 on rent, $500 on car expenses, $200 on a line-of-credit interest payment, $400 on miscellaneous expenses, and saves $2,500. a. What percent of his monthly take-home salary are his monthly expenses? % Round to two decimal places. b. His financial advisor suggested he invest 27% of his take-home salary in a mutual fund. What percent of his current savings would this amount be? %E Round to two decimal places.
Chapter2: Solving Linear Equations
Section2.2: Use A Problem Solving Strategy
Problem 2.53TI: Eduardo noticed that his new car loan papers stated that with a 7.5% simple interest rate, he would...
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Transcribed Image Text:Ashley lives in a condominium in downtown Toronto and works as a business analyst.
He earns an annual take-home salary of $61,200, and every month he spends $1,500
on rent, $500 on car expenses, $200 on a line-of-credit interest payment, $400 on
miscellaneous expenses, and saves $2,500.
a. What percent of his monthly take-home salary are his monthly expenses?
%=
Round to two decimal places.
b. His financial advisor suggested he invest 27% of his take-home salary in a mutual
fund. What percent of his current savings would this amount be?
%E
Round to two decimal places.
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