Question

In your budget you have \(\frac{1}{10}\) of your annual salary saved for your college tuition. If your annual salary is \(\$ 32,450\), how much will you have for your tuition?

Short answer

Answer: $3,245 is saved for college tuition.

Step-by-step solution

Identify the given information

The problem gives us the following information: - The fraction of the annual salary saved is \(\frac{1}{10}\). - The annual salary is $32,450.

Set up the equation to find the amount saved for tuition

To find the amount saved for tuition, we will multiply the annual salary by the fraction representing the proportion saved. This can be represented by the equation: Amount_saved_for_tuition = (Annual_salary) × (Fraction_saved)

Plug in the given values and solve

Now, we will use the given values and plug them into our equation: Amount_saved_for_tuition = ($32,450) × \frac{1}{10} To perform the multiplication, we will multiply the annual salary by the numerator of the fraction and then divide the result by the denominator of the fraction. Amount_saved_for_tuition = \(\frac{1}{10} × \)32,450 = \(\frac{32,450}{10}\) Now, divide \(32,450 by \)10: Amount_saved_for_tuition = $3,245

Interpret the result

Based on the given information and calculations, we can conclude that \(3,245 is saved for college tuition from the annual salary of \)32,450.