Question

Kelly and Julie plan to share an apartment while attending college. Their net monthly income is $2100. What range (minimum and maximum amount) of rent (housing and utilities) should they be looking at when searching for apartments, according to the above chart?

Answer 1

According to the chart the range of rent should have a minium of 27% and a maximum of 33% of their net income.

Their net income is $2100.

Therefore, 27% of their net income is given by:

`(27)/(100)*2100=\$567`

33% of their net income is given by:

`(33)/(100)*2100=\$693`

Therefore, the range is given by $567 - $693

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