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Michael's take home pay is $1658 per month. He wants to allocate 28% of his income for a new truck. How much could he spend on a truck payment?

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Final answer:

Michael can allocate $464.24 per month for a new truck payment, which represents 28% of his monthly take-home pay of $1,658.

Step-by-step explanation:

To calculate how much Michael can spend on a truck payment based on 28% of his monthly income, we will use a simple percentage calculation. Michael's take-home pay is $1,658 per month. To find out how much 28% of his income is, we multiply his income by the percentage in decimal form (0.28). The calculation will be as follows:

$1,658 x 0.28 = $464.24

Therefore, Michael could allocate $464.24 per month for the new truck payment.

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