Question

If you make a weekly salary of $356, what is the maximum monthly rent you can afford? (Assume that there are four weeks in a month.)

$398.72

$384.48

$326.76

$302.22

Answer 1

Answer with explanation:

Weekly Salary of mine= $ 356

Monthly Salary of Mine, if there are four weeks in a month. =$356×4=$1424

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

So,28% of $1424

`=(28)/(100)*1424\\\\=(28* 1424)/(100)\\\\=(39872)/(100)\\\\=398.72`

Option A: $ 398.72

Answer 2

Consumer Math: Rule on Rent.

Rent < 28% of Gross Monthly Pay

Weekly pay: 356
Monthly pay : 356 x 4 = 1,424
Maximum monthly rent: 1,424 x 28% = 398.72

First option is the answer. $398.72