Laura budgets $54 each month for annual expenses. she nets $1820 semimonthly. what percent of her net monthly income does she budget for annual expenses? 1% 3% 6% 8%

The correct answer is 1%.

If she is getting $1820 semimonthly. That means that she is getting $3640 per month. 1820 x 2 = 3640

Now, we just need to find the percent of that which goes for the annual expenses.

Divide 54 by 3640 and multiply by it 100 to get a percent of 1.4% which can be rounded to 1%.

Explanation: 

Since the income known in the problem is for semi-monthly (meaning every half of the month), we should compute for the monthly income because we what know is the amount of money Laura allots on a monthly basis for her annual expenses. 

Since semi-monthly income is received twice per month, the monthly income of Laura is two times her semi-monthly income (= $1820). That is,

monthly income
= 2 × semi-monthly income
= 2 × $1820
monthly income = $3,640

Because $54 is budgeted each month for annual expenses, the percentage of the monthly income that is allocated for annual expenses is computed as

percentage of the monthly income
= ((monthly income allocated for annual expenses) ÷ (monthly income)) × 100%
= ($54 ÷ $3,640) × 100%
≈ 0.0148351648 × 100%
percentage of the monthly income ≈ 1%

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