Question

14.Michael's annual salary is $39,110 and has abudget of 26% of annual salary for housing.What is the most that Michael may spendon monthly rent?

Answer 1

Answer: $847.38

Step-by-step explanation

Given

• Michael's annual salary: $39,110

,

• Budget of annual salary for housing: 26%.

Procedure

As the annual salary is $39,110, and the budget for housing is 26%, we have to get the proportion and multiply it times the annual salary.

0. Calculating the proportion

`(26\%)/(100\%)=0.26`

2. Multiplying the proportion times the salary

`$ 39,110 $\cdot0.26=10168.6\approx10169`

He can spend $10,169 in housing annualy, but we are asked for the monthly rent:

`(10168.6)/(12)\approx847.38`

Then, he can spend $847.38 on monthly rent.