Terry makes $2400 per month in gross income. His net earnings are 80% of his gross. His utility bills total $150. What percentage of Terry's net earnings is he spending on utilities?

7.81%

Step-by-step explanation:

First, you have to calculate the net earnings by calculating the 80% of the gross income:

gross income = $2,400

net earnings = $2,400*80% = $1,920

Then, you have to calculate the percentage that represents the utility bills spending from the net earnings by dividing $150 by the net earnings and multiplying for 100:

($150/$1,920) * 100 = 7.81%

According to this, the answer is that 7.81% of Terry's net earnings are spent on utilities.