Question

Your rent is 750/month. What should your minimum realized income be

Answer 1

Answer:

2500/month

Step-by-step explanation:

Usually, people should not allocate more than 30% of their earnings to pay for rent. So, you can use the rule of three to calculate the value:

30% ------ 750

100% ----- X

X= 100x750/30 =2500

It is important to note that realized income is when any amount of capital is gained, so it is the income that that is actually received from different sources, including a salary, a wage, rental income, or the sale of any good.