Final answer:
Antwan should make at least $26,000 annually to comfortably afford an apartment costing $650 per month, according to the 30% rule for housing expenses.
Step-by-step explanation:
To calculate how much Antawn needs to make per year to comfortably afford an apartment that costs $650 per month, a common rule of thumb is the 30% rule. This rule suggests that no more than 30% of your income should go towards housing. Therefore, let's calculate Antawn's minimum annual income to meet this guideline.
Firstly, we need to find out what 30% of Antawn's monthly income would be if it were solely dedicated to rent:
Rent = 0.30 × Monthly Income
Now, solve for Monthly Income:
Monthly Income = Rent / 0.30
Monthly Income = $650 / 0.30
Monthly Income = $2,166.67
To find the annual income, we simply multiply the monthly income by 12:
Annual Income = Monthly Income × 12
Annual Income = $2,166.67 × 12
Annual Income =0.000
Therefore, Antawn should make at least $26,000 annually to afford an apartment costing $650 per month without financial strain.