Answer:
20.34 % of annual net income is spend on food.
Step-by-step explanation:
Amount spend on food = $7104
Annual net income = $ 34,910
We need to find what percent of their annual net income is the amount spend on food.
The Formula used will be:
[tex]Percentage=\frac{Amount\:spend\:on\:food}{Annual\:net\:income}\times 100[/tex]
Putting values of amount spend on food and Annual net income and finding percentage
[tex]Percentage=\frac{7104}{34910}\times 100\\Percentage=0.2034 \times 100\\Percentage=20.34\%[/tex]
So, 20.34 % of annual net income is spend on food.
