Answered: Food $175 Entertainment $100 Bills $91…

Food $175 Entertainment $100 Bills $91 Charitable donations $100 d. To the nearest degree, what is the degree measure of the slice associated with rent

Income Tax Fundamentals 2020

38th Edition

ISBN:9780357391129

Author:WHITTENBURG

Publisher:WHITTENBURG

Chapter2: Gross Income And Exclusions

Section: Chapter Questions

Problem 14MCQ

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Concept explainers

Present Value

Present value (PV) is defined as the current or present value of all future sums of cash flow or money at a specified rate of return. This rate of return is known as the discounted rate, which is essentially the interest rate, discounted over some time. The expected cash flows are discounted at a discount rate to compute the present value. The higher the discount rate, the higher the future value (FV), but the lower the present value.

Question

Expense Dollar amount
Rent $650
Food $175
Entertainment $100
Bills $91
Charitable donations $100

d. To the nearest degree, what is the degree measure of the slice associated with rent?
e. If the money not shown in the table is put into savings, then to the nearest tenth of a
percent, what percent of his total income for May was Jalen able to save?

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