select the correct answer. anthony has a net spendable income of $1,950 per month. what is the maximum…

select the correct answer. anthony has a net spendable income of $1,950 per month. what is the maximum recommended amount of money that he should budget for food for a month? round to the nearest dollar. a. $293 b. $312 c. $274 d. $390

select the correct answer. anthony has a net spendable income of $1,950 per month. what is the maximum recommended amount of money that he should budget for food for a month? round to the nearest dollar. a. $293 b. $312 c. $274 d. $390

Answer

Explanation:

Step1: Assume a common - rule for food budget

Typically, it is recommended to spend about 10 - 15% of net income on food. Let's use 15% (a common upper - bound estimate for a food budget as a percentage of net income).

Step2: Calculate the food budget

We know the net income is $1950. To find 15% of $1950, we use the formula $0.15\times1950$. $0.15\times1950 = 292.5$

Step3: Round to the nearest dollar

Rounding 292.5 to the nearest dollar gives 293.

Answer:

A. $293