Question

Gretchen's gross annual salary is $97,300. What is the maximum amount of rent she can afford to pay per month? Round answer to the nearest whole number. Do not include units.

Answer 1

Given:

Gretchen's gross annual salary = $97,300

The maximum amount of rent she can afford to pay per month can be found using the formula:

`\text{Max amount of rent she can pay}=\frac{\text{\it{Gross annual salary}}}{\text{\it{Number of months in a year}}}`

Applying the formula:

`\text{Max amount of rent she can pay}=(97300)/(12)`

`= \ \$811`

Hence, the maximum amount of rent she can afford to pay per month is $811

Answer: $811