Question

Paula budgets 23% of her annual income for housing. If she budgets$410 per month for housing, what is her annual income?a. $9,430b. $21,500.30c. $21,391.30d. $17,826.08

Answer 1

First, multiply her total budget per year by multiplying her monthly budget to 12 (12 months in a year).

`\$410*12=\$4920`

Next, convert 23% into decimal, and divide it to her annual budget for housing.

`\begin{gathered} 23\%\Rightarrow0.23 \\ \\ \$4920/0.23=\$21,391.30 \end{gathered}`

Therefore, her annual income is $21,391.30.