https://file.aiquickdraw.com/mathbot/file/1727724298626nzn070cf.jpg

The problem provided in the image asks to determine the percentage of a family's monthly budget that is allocated to mortgage payments.

We are given:
- Monthly income: $4,800
- Mortgage payment: $960

To find the percentage, we use the formula:

\[
\text{Percentage} = \left( \frac{\text{Mortgage payment}}{\text{Monthly income}} \right) \times 100
\]

Let's calculate it:

\[
\text{Percentage} = \left( \frac{960}{4800} \right) \times 100
\]

Now, I'll compute this.The mortgage payment represents **20%** of the Pearson family's monthly income. Therefore, the correct answer is **C. 20%**.

Would you like further details or have any questions about this? 

Here are 5 related questions you might find helpful:
1. How can we calculate percentages for different expenses in a budget?
2. How does the percentage change if the mortgage payment increases?
3. What is the process to calculate the percentage of other financial allocations (e.g., savings, utilities)?
4. How do we express percentages as decimals and fractions?
5. Why is it important to track percentage allocations in a family budget?

**Tip**: When calculating percentages, always ensure the units are consistent (e.g., both values in dollars) to avoid errors.

The Pearson family's monthly income is $4,800. They have budgeted $960 for their mortgage payment. Which best represents the percent of their monthly budget that is allocated for this expense item?

Learn how to calculate the percentage of a monthly budget allocated for a mortgage payment. Given a monthly income of $4,800 and a mortgage payment of $960, this problem guides students through the steps to solve percentage allocation. Suitable for students in Grade 7.

Math Problem Statement

Solution

Ask a new question for Free

By Image

Math Problem Analysis

Mathematical Concepts

Formulas

Theorems

Suitable Grade Level

Related Recommendation