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A common rule is that housing expenses should not be more than 28% of your monthly income. Your monthly income is $3,200. How much can you spend on housing? a) $364 b) $896 c) $1,137 d) $1,576

User Honyovk
by
8.1k points

2 Answers

4 votes
$3,200·0.28=$896

The answer is B.
User ReTs
by
8.7k points
1 vote

Answer:

b. $896.

Explanation:

We have been given that a common rule is that housing expenses should not be more than 28% of your monthly income. Your monthly income is $3,200.

To find the amount of money we can spend on housing, we need to figure out 28% of $3200.


\text{Amount we can spend on housing}=(28)/(100)* \$3200


\text{Amount we can spend on housing}=0.28* \$3200


\text{Amount we can spend on housing}=\$896

Therefore, we can spend $896 on housing and option 'b' is the correct choice.

User Mkarasek
by
7.6k points
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