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Shaylee earns a bi-weekly mean gross pay of $2,655.00. What percent of her total salary will she pay if her student
loan payments are $415.00 per month for 180 months? Round to the nearest tenth. (1 point)
6.8%
7.2%
7.8%
○ 7.5%



Answer :

Answer:   To calculate the total amount Shaylee will pay towards her student loan, we need to multiply the monthly payment by the number of months.

Given:

Monthly payment = $415.00

Number of months = 180

Total payment = Monthly payment Number of months = $415.00 180 = $74,700.00

Now, we need to find the percentage of Shaylee's total salary that she will pay towards her student loan.

Given:

Bi-weekly gross pay = $2,655.00

Bi-weekly pay in a year = 26 (since bi-weekly means every two weeks)

Annual gross pay = Bi-weekly gross pay Bi-weekly pay in a year = $2,655.00 26 = $69,030.00

Now, we can calculate the percentage of her total salary that Shaylee will pay towards her student loan by dividing the total loan payment by her annual gross pay and then multiplying by 100 to get the percentage.

Percentage = (Total loan payment / Annual gross pay) * 100

Percentage = ($74,700.00 / $69,030.00) * 100 = 108.2%

Rounded to the nearest tenth, the percentage of Shaylee's total salary that she will pay towards her student loan is 108.2%, which is not one of the options provided.

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