Question

Brianna's gross annual salary is $50,676. What is the recommended maximum monthly rent she should pay?

$998
$1046
$1182
$2111

Answer 1

Answer with explanation:

Gross Annual Salary of Brianna's= $ 50,676

Monthly Salary of Brianna's

`=(50676)/(12)\\\\=4223`$

We will use
`(28)/(36)` rule here,which states that, 28% of monthly income should be used for housing expenditures,and 36 % of monthly income should be used for paying Debt or Debt Purposes.

So, Maximum Monthly Rent that Brianna can pay

= 28 % of 4223

`=(28)/(100) * 4223\\\\ =(118244)/(100)\\\\=1182.44`

=$ 1182 (Approx)

Option C: $ 1182