Question

Monica knows that she should spend no more than 1/3 of her income on her rent. She really wants to move into a cool condo downtown and has found a great place where the rent is $2,300 per month. Based on that, how much should Monica earn each month to afford the rent on her cool new place?

Answer 1

$6,900

Explanation:

Let

x = Amount Monica should earn each month

Rent per month = $2,300

Monica knows that she should spend no more than 1/3 of her income on her rent

1/3 of her Income = rent

1/3 of x = 2,300

1/3x = 2,300

x = 2,300 ÷ 1/3

x = 2,300 * 3/1

x = $6,900

Monica should earn $6,900 each month to afford the rent on her cool new place