Question

Gias gross annual salary is 46,392. what is the recommended maximum monthly rent she should pay?

1082
1648
1933
2784

Answer 1

Annual Salary of Gias = $ 46,392

We will use ,
`(28)/(36)` rule here, which states that 28 % of monthly income should be used for housing finances, and 36 % of your family income should be used for debt purposes.

Since, monthly rent is housing finance.

28% of $ 46,392

`=(28)/(100)* 46392\\\\ =12989.76`

Monthly rent

`=(12989.76)/(12)\\\\=1082.48`

Maximum monthly rent paid by Gias = $ 1082.48

Option A: 1082