Question

I NEED HELP ASAP

Isaacs gross annual salary is $56,953

What is the maximum monthly rent he can afford? Round to the nearest dollar
A)$1187
B)$1329
C)$1424
D)1661

Answer 1

1329 is your answer

Answer 2

Option B) $1329

Explanation:

we know that

The maximum rent must be less than or equal to 28% of Gross Monthly Pay

step 1

Find out Isaac's Gross Monthly Pay

Divide Isaac's Gross Annual Pay by 12 (the number of months in a year)

`\$56,953/12=\$4,746.08`

step 2

Find out the maximum monthly rent he can afford

`28\%=28/100=0.28`

Multiply Isaac's Gross Monthly Pay by 0.28

`\$4,746.08(0.28)=\$1,329`