note: please make sure to properly format your answers. all dollar - figures in the answers need to include…

note: please make sure to properly format your answers. all dollar - figures in the answers need to include the dollar sign and any amount over 1,000 should include the comma ($2,354.67). all percentage values in the answers need to include a percentage sign (%). for all items without specific rounding instructions, round your answers to two decimal places, show both decimal places (5.06).\naida created the following double - bar graph. it illustrates the actual amount spent this year for household expenses per month and the budgeted amounts for the following year. aida calculated the year 2 budget amounts by adding a fixed percent increase to each of the actual amounts for year 1.\nfor june, the actual amount is $1,200, and the budgeted amount for year 2 is $1,320.\na. what was the percentage adjustment that aida used to get the budgeted amount?\nb. determine the budgeted amount for january of year 2.\nc. the august actual amount was the exact amount aida had budgeted for. this actual amount reflected an 8% increase over the previous years actual amount for august. what was the previous years actual amount for august rounded to the nearest dollar?

note: please make sure to properly format your answers. all dollar - figures in the answers need to include the dollar sign and any amount over 1,000 should include the comma ($2,354.67). all percentage values in the answers need to include a percentage sign (%). for all items without specific rounding instructions, round your answers to two decimal places, show both decimal places (5.06).\naida created the following double - bar graph. it illustrates the actual amount spent this year for household expenses per month and the budgeted amounts for the following year. aida calculated the year 2 budget amounts by adding a fixed percent increase to each of the actual amounts for year 1.\nfor june, the actual amount is $1,200, and the budgeted amount for year 2 is $1,320.\na. what was the percentage adjustment that aida used to get the budgeted amount?\nb. determine the budgeted amount for january of year 2.\nc. the august actual amount was the exact amount aida had budgeted for. this actual amount reflected an 8% increase over the previous years actual amount for august. what was the previous years actual amount for august rounded to the nearest dollar?

Answer

Explanation:

Step1: Calculate percentage adjustment for June

The formula for percentage increase is $\frac{\text{New Amount}-\text{Old Amount}}{\text{Old Amount}}\times100%$. For June, old amount (actual) is $$1200$ and new amount (budgeted) is $$1320$. So, $\frac{1320 - 1200}{1200}\times100%=\frac{120}{1200}\times100% = 10.00%$.

Step2: Determine budgeted amount for January of Year 2

Assume the actual amount for January is read from the graph (let's say it's $A$). Since the percentage adjustment is $10%$, the budgeted amount $B$ for January of Year 2 is $B=A\times(1 + 0.1)$. If we assume the actual January amount is $$1400$ (from visual - estimation as no value given in text), then $B = 1400\times1.1=$1540.00$.

Step3: Find previous - year's actual amount for August

Let the previous - year's actual amount for August be $x$. We know that the current actual (and budgeted) amount is $x$ increased by $8%$. So, if the current amount is read from the graph (assume it's $y$), then $y=x\times(1 + 0.08)$. Rearranging for $x$, we get $x=\frac{y}{1.08}$. If we assume the current August amount is $$1620$ (from visual - estimation as no value given in text), then $x=\frac{1620}{1.08}=$1500$.

Answer:

a. $10.00%$ b. $$1540.00$ (assuming actual January amount is $$1400$) c. $$1500$ (assuming current August amount is $$1620$)