Question

Paul's gross weekly salary is $456. What is the maximum monthly rent he can afford?Round to the nearest dollar.

Answer 1

553 is your answer

Answer 2

Weekly Salary of Paul = $ 456

Monthly salary of Paul (Considering there are 30 days in month)

`=456 * 4 + 2 * (456)/(7)`

= $1954.2857

= $ 1954.30 (approx)

`(28)/(36)` Rule states that 28 % of your income should be spent on housing finances.

So, 28 % of $ 1954.30

`(28)/(100)* 1954.30=547.20`

Option (C) $ 553 is true.