Question

Jake heard that as a general rule, he should spend no more than one week's pay on rent. If Jake's salary is $24,700 per year, what is the maximum amount per month that he should spend on rent?

Answer 1

The correct answer is:

$475

Explanation:

Jake earns $24,700 per year.  If he spends no more than one week's pay on rent per month, we need to know how much of this salary he earns each week.  There are 52 weeks in a year, so we divide 24700 by 52:

24700÷52 = 475.

Jake earns $475 each week, so he should spend no more than this in rent.