Question

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1] Amanda’s gross annual salary is $62,112.

What is the maximum amount of rent she can afford to pay?

Round your answer to the nearest dollar.

A $2588
B $1866
C $1449
D $1236

2] Jonathan is signing a lease for an apartment that rents for $1240/month.

How much will he pay to move in if he must pay the first and last months’ rent and a security deposit equal to 80% of his monthly rent?

A $2976
B $3472
C $3542
D $3720

Answer 1

first one would be c

Explanation:

Answer 2

Part 1
Rule of thumb for month rent: Rent ≤ 28% of monthly gross income

Then,
Month gross income = $62,112/12 = $5,176
Affordable rent = 0.28*5176 = $1,449.28
Rounding to nearest dollar;
Affordable rent = $1,449.
The correct answer is C.

Part 2
Monthly rent = $1240
Security deposit = 80% of rent = 0.8*1240 = $992
Amount to be paid = 1240*2 + 992 = $3472

The correct answer is B.