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Caroline's gross annual salary is $47,448 what is the maximum amount of rent she can afford to pay?

A)$1107
B)$1186
C)$1210
D)$1221

User Agrafix
by
7.6k points

2 Answers

3 votes
the awser is letter a


User Bobics
by
8.4k points
4 votes

Answer:

Yearly Salary of Caroline = $ 47,448

Monthly salary of Caroline


=(47448)/(12)\\\\=3954

As, 28/36 rule states that maximum of 28% of your monthly expenditure should be spent on housing finances.

28 % of $ 3954


=(28)/(100)*3954\\\\=(110712)/(100)\\\\=1107.12

Option A) $ 1107 is , that maximum amount of rent that Caroline can pay.

User Jason Kresowaty
by
8.1k points
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