Final answer:
Lilliana can spend up to $1,381.00 on rent each month, which is 25% of her $5,524 monthly income. It is important to round the final result to two decimal places, as requested.
Step-by-step explanation:
Lilliana makes $5,524 per month and can spend no more than 25% of her monthly budget on rent. To calculate the maximum amount Lilliana can spend on rent each month, we use the following calculation:
- First, convert the percentage into a decimal by dividing by 100.
- 25% / 100 = 0.25
- Next, multiply Lilliana's monthly income by this decimal.
- $5,524 * 0.25 = $1,381
- Therefore, Lilliana can spend up to $1,381 on rent each month.
It is important to round the final result to two decimal places, as requested. In this case, rounding is not necessary since we have an even dollar amount with no cents. Thus, the maximum monthly rent Lilliana can afford is $1,381.00.