The Bureau of economic analysis estimates that in 2010, Americans spent $10.2 tr

Question

The Bureau of economic analysis estimates that in 2010, Americans spent $10.2 trillion and personal consumption. The major categories of these expenditures are durable goods ($1,000,000,000,000) nondurable goods ($2.3 trillion), and services ($6.8 trillion, healthcare, education, transportation).

Healthcare was estimated to be $1.7 trillion in 2010. About what percentage of personal spending is devoted to health care if total person spending was $10.2 trillion?

My answer:
$1.7 trillion - $10.2 trillion/ $10.2 trillion = -83%

Is it correct?

Explanation / Answer

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Answer will be

((Money spent on healthcare)/(Total money spent ))*100

=((1.7)/10.2))*100

=16.67%

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