c) your parents have been advised to save 5% of their income for your college education, which would include…

c) your parents have been advised to save 5% of their income for your college education, which would include money for housing, tuition, books, and fees. how much would your parents have saved in one year, following the recommended 5%, if they had an average household income of $48,948? show your work. (5 points)

c) your parents have been advised to save 5% of their income for your college education, which would include money for housing, tuition, books, and fees. how much would your parents have saved in one year, following the recommended 5%, if they had an average household income of $48,948? show your work. (5 points)

Answer

Explanation:

Step1: Convertir el porcentaje a decimal

Para convertir el 5% a decimal, dividimos entre 100. Así, $5%=\frac{5}{100}=0.05$.

Step2: Calcular la cantidad ahorrada

Multiplicamos el ingreso promedio de la familia por el decimal del porcentaje. Sea $I = 48948$ el ingreso y $p = 0.05$ el porcentaje en decimal. Entonces, la cantidad ahorrada $A$ es $A=I\times p$. $A = 48948\times0.05=2447.4$

Answer:

$2447.4$