You (or your parents) have a realized income of $1,046.78/every 2 weeks. How much should the housing expense budget be to stay w

Question

Leviafan [203]

2 years ago

10

You (or your parents) have a realized income of $1,046.78/every 2 weeks. How much should the housing expense budget be to stay w

ithin acceptable limits?

Mathematics

2 answers:

cestrela7 [59] · Answer 1 · 2022-05-04T09:36:22+03:00

cestrela7 [59]2 years ago

6 0

<span>Housing expenses would be equal to $586.20.</span>

Luden [163] · Answer 2 · 2022-05-04T10:49:51+03:00

Answer:

The answer is $586.20

Step-by-step explanation:

You (or your parents) have a realized income of $1,046.78/every 2 weeks.

That means monthly salary is = $2\times1046.78=2093.56$

As nothing is specified, so we can consider the 28/36 Rule to solve this question. This rule states that a household should spend a maximum of 28% and no more than 36% on total debt service.

So, 28% of 2093.56 is = $0.28\times2093.56=586.19$ ≈$586.20

Hence, the answer is $586.20