Respuesta :

Hagrid
If you make an annual salary of $18,920, Find the maximum monthly rent you can afford:
=> 18 920 dollars / 12 months = 1576.67 dollars is your monthly payment.
Base on the given choices, you can afford all prices but practicality wise, 441.47 dollars is the most recommended rentals.

Answer with explanation:

We will use , [tex]\frac{28}{36}[/tex] rule here, which states that , 28 % of your monthly income should be used for housing finances and 36 % of your total gross income should be used for debt purposes.

Total Annual Salary = $ 18,920

Monthly salary [tex]=\frac{18920}{12}[/tex]

→→28% of 18,920

[tex]=\frac{28}{100}\times \frac{18920}{12}\\\\=\frac{529760}{100\times 12}=441.4666\\\\=441.47[/tex]

Option B: $ 441.47      

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