Question

Michael annual salary is 39,110 and has a budget of 26%of annual salary for housing what is the most that Michael may spend on monthly rent

Answer 1

Since each year has 12 months, divide the annual salary by 12 to find the monthly salary. Then, multiply it by 26/100 to find the amount of money that Michael may spend.

`(39,110)/(12)*(26)/(100)=847.38333\ldots`

Therefore, the most that Michael ay spend on monthly rent, is approximately:

`847.38`