Question

Most Americans spend more than 30% of their yearly income on housing expenses. If you earn $27,000 per year, how much money will you need to spend on housing?

Answer 1

Answer: You need to spend more than $ 8,100 on housing.

Explanation:

Given : Yearly income = $27,000

Money spent more than 30% of yearly income.

Amount need to spent on housing = 0.30 x (yearly income) [30% =0.30]

= 0.30 x (27000)

= $ 8,100

Hence, you need to spend more than $ 8,100 on housing.