franklins monthly budget\nfranklin, a college student, crafted a monthly budget table to manage his…

franklins monthly budget\nfranklin, a college student, crafted a monthly budget table to manage his finances. he listed income sources alongside expenses. by comparing projected and actual amounts, he aimed to control spending, save effectively, and avoid financial pitfalls.\nusing the formula for percent - allocation: percent allocation = \\(\\frac{total amount of component}{total amount for comparison}\\times100\\%\nwhat percentage of franklins actual total expenses of $1,740 is allocated for the actual rent amount?\ncategory projected amount ($) actual amount ($) difference ($)\npart - time job 800 750 - 50\nparental allowance 300 320 20\nscholarship 500 500 0\ngiving tutorials 150 170 20\nrent 600 590 10

franklins monthly budget\nfranklin, a college student, crafted a monthly budget table to manage his finances. he listed income sources alongside expenses. by comparing projected and actual amounts, he aimed to control spending, save effectively, and avoid financial pitfalls.\nusing the formula for percent - allocation: percent allocation = \\(\\frac{total amount of component}{total amount for comparison}\\times100\\%\nwhat percentage of franklins actual total expenses of $1,740 is allocated for the actual rent amount?\ncategory projected amount ($) actual amount ($) difference ($)\npart - time job 800 750 - 50\nparental allowance 300 320 20\nscholarship 500 500 0\ngiving tutorials 150 170 20\nrent 600 590 10

Answer

Explanation:

Step1: Identify the formula

Percent allocation = $\frac{\text{actual rent amount}}{\text{actual total expenses}}\times100%$

Step2: Determine values

The actual rent amount is $590$ and the actual total expenses is $1740$.

Step3: Calculate

Percent allocation = $\frac{590}{1740}\times 100% \approx 33.90%$

Answer:

$33.90%$