Compute the total cost per year of the following pair of expenses. Then complete the sentence: On an annual basis, the first set of expenses is % of the second set of expenses. Vern buys thirteen lottery tickets each week at a cost of $2 each and spends $800 per year on his textbooks. On an annual basis, the money spent on lottery tickets is % of the money spent to buy textbooks.
Compute the total cost per year of the following pair of expenses. Then complete the sentence: On an annual basis, the first set of expenses is % of the second set of expenses. Vern buys thirteen lottery tickets each week at a cost of $2 each and spends $800 per year on his textbooks. On an annual basis, the money spent on lottery tickets is % of the money spent to buy textbooks.
Advanced Engineering Mathematics
10th Edition
ISBN:9780470458365
Author:Erwin Kreyszig
Publisher:Erwin Kreyszig
Chapter2: Second-order Linear Odes
Section: Chapter Questions
Problem 1RQ
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Question
![**Exercise Overview:**
Compute the total cost per year of the following pair of expenses. Then complete the sentence: On an *annual* basis, the first set of expenses is _______% of the second set of expenses.
**Scenario:**
Vern buys thirteen lottery tickets each week at a cost of $2 each and spends $800 per year on his textbooks.
---
**Problem:**
On an annual basis, the money spent on lottery tickets is _______% of the money spent to buy textbooks.
*(Round to the nearest percent as needed.)*
---
**Exercise Breakdown:**
1. **Calculate Annual Lottery Ticket Expense:**
- Number of lottery tickets per week: 13
- Cost per lottery ticket: $2
- Calculate weekly expense: \(13 \times 2 = 26\) dollars
- Calculate annual expense: \(26 \times 52 = 1352\) dollars
2. **Annual Textbook Expense:**
- Given as $800 per year
3. **Calculate Percentage:**
- Use the formula to find the percentage:
\[
\left( \frac{\text{Lottery Ticket Annual Expense}}{\text{Textbook Annual Expense}} \right) \times 100\%
\]
- Substituting the values:
\[
\left( \frac{1352}{800} \right) \times 100\% \approx 169\%
\]
Thus, on an annual basis, the money spent on lottery tickets is *169%* of the money spent to buy textbooks.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fa1b8dc84-f970-4eb9-b83f-1685b8f02dfd%2F5932de9f-cef3-444e-a617-20393bf037c6%2Fypd0xbo_processed.png&w=3840&q=75)
Transcribed Image Text:**Exercise Overview:**
Compute the total cost per year of the following pair of expenses. Then complete the sentence: On an *annual* basis, the first set of expenses is _______% of the second set of expenses.
**Scenario:**
Vern buys thirteen lottery tickets each week at a cost of $2 each and spends $800 per year on his textbooks.
---
**Problem:**
On an annual basis, the money spent on lottery tickets is _______% of the money spent to buy textbooks.
*(Round to the nearest percent as needed.)*
---
**Exercise Breakdown:**
1. **Calculate Annual Lottery Ticket Expense:**
- Number of lottery tickets per week: 13
- Cost per lottery ticket: $2
- Calculate weekly expense: \(13 \times 2 = 26\) dollars
- Calculate annual expense: \(26 \times 52 = 1352\) dollars
2. **Annual Textbook Expense:**
- Given as $800 per year
3. **Calculate Percentage:**
- Use the formula to find the percentage:
\[
\left( \frac{\text{Lottery Ticket Annual Expense}}{\text{Textbook Annual Expense}} \right) \times 100\%
\]
- Substituting the values:
\[
\left( \frac{1352}{800} \right) \times 100\% \approx 169\%
\]
Thus, on an annual basis, the money spent on lottery tickets is *169%* of the money spent to buy textbooks.
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