Sure, let's fill in the table step-by-step with the given information and then calculate the total annual cost and the total percentage of the annual income that the parents will spend on their children.
First, let's list the expenses and their respective amounts and percentages:
1. Housing:
- Amount: \[tex]$12,000
- Percentage: 25%
2. Food:
- Amount: \$[/tex]8,000
- Percentage: 16.67%
3. Transportation:
- Amount: \[tex]$6,000
- Percentage: 12.5%
4. Clothing:
- Amount: \$[/tex]2,000
- Percentage: 4.17%
5. Healthcare:
- Amount: \[tex]$3,000
- Percentage: 6.25%
6. Child care and education:
- Amount: \$[/tex]4,000
- Percentage: 8.33%
7. Other:
- Amount: \[tex]$5,000
- Percentage: 10.42%
Next, we combine these individual amounts into a total and add their respective percentages:
- Total Amount: \$[/tex]12,000 + \[tex]$8,000 + \$[/tex]6,000 + \[tex]$2,000 + \$[/tex]3,000 + \[tex]$4,000 + \$[/tex]5,000 = \[tex]$40,000
- Total Percentage: 25% + 16.67% + 12.5% + 4.17% + 6.25% + 8.33% + 10.42% = 83.34%
Now, let's put all this data into the table:
\[
\begin{tabular}{|l|l|l|}
\hline \multicolumn{1}{|c|}{ Expenses } & Amount & \begin{tabular}{c}
Percentage \\
of the \\
Annual \\
Income
\end{tabular} \\
\hline housing & \$[/tex]12,000 & 25\% \\
\hline food & \[tex]$8,000 & 16.67\% \\
\hline transportation & \$[/tex]6,000 & 12.5\% \\
\hline clothing & \[tex]$2,000 & 4.17\% \\
\hline healthcare & \$[/tex]3,000 & 6.25\% \\
\hline child care and education & \[tex]$4,000 & 8.33\% \\
\hline other & \$[/tex]5,000 & 10.42\% \\
\hline total & \[tex]$40,000 & 83.34\% \\
\hline
\end{tabular}
\]
Therefore, the total annual cost of raising the children is \$[/tex]40,000, and the parents will spend 83.34% of their total annual income on their children.
