Question

in eddys budget, his income is $2,400. his expenses are rent $1,200, food $500, transportation $300, miscellaneous $200. en el presupuesto de eddy, su ingreso es $2,400. sus gastos son renta $1,200, comida $500, transporte $300, misceláneos $200. 7a) he wants to follow the ratio of 5: 3: 2 (needs:wants:savings). is his budget doing a good job? explain. quiere seguir la razón de 5:3:2 (necesidades: deseos: ahorros). ¿su presupuesto lo hace bien? explica.

Explanation:

Step1: Calculate total expenses

$1200 + 500+300 + 200=2200$

Step2: Calculate savings

$2400 - 2200 = 200$

Step3: Classify expenses into needs and wants

Needs (Rent, Food, Transportation): $1200+500 + 300=2000$, Wants (Miscellaneous): $200$

Step4: Calculate ratios based on actual budget

The ratio of needs : wants : savings is $2000:200:200 = 10:1:1$

Step5: Compare with target ratio

The target ratio is $5:3:2$. The actual ratio $10:1:1$ is very different from the target ratio.

Answer:

No, his budget is not doing a good job because the actual ratio of needs : wants : savings ($10:1:1$) is significantly different from the target ratio of $5:3:2$.