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17 June, 09:04

Tom's real estate office reports that the office's income last month was $315,600, while expenses were $19,567.20. What percent of last month's income was spent on office expenses?

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  1. 17 June, 11:07
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    6.2% of last month's income was spent on office expenses

    Step-by-step explanation:

    1. Let's review the information given to us to answer the question correctly:

    Office's income last month = $ 315,600

    Expenses last month = $ 19,567.20

    2. What percent of last month's income was spent on office expenses?

    To calculate this percent, we use this fraction:

    Expenses last month/Office's income last month

    Replacing with the real values:

    19,567.20/315,600 = 6.2%

    6.2% of last month's income was spent on office expenses
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