Financial advisors recommend that a maximum of 22% of your monthly income be spent on vehicle expenses (total of car payment, car insurance, and maintenance/fuel). Nadias monthly income is $3200. She wants to take out a loan to buy a 2018 Kia Soul which would result in monthly vehicle expenses consisting of a $515 car payment, $78 car insurance, and $125 maintenance/fuel expenses. What percentage of Nadias monthly income would be spent on vehicle expenses if she purchases the 2018 Kia Soul? Round the percentage to one decimal place.

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Answer:

Step-by-step explanation:

Her monthly vehicle expense is 515+78+ 125 = 718

Her income is 3200

Let 718 = x% of 3200

Then 718 = x X 3200/100 x = 718/32 = 22.435 which = 22.4

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