Question

Help!

Answer 1

Answer:

1. The monthly income is $3,750.00
2. Maximum amount on rent $1,050

Explanation:

Monthly income will be the annual income divided by 12 months

= $45,000/ 12

=$3,750.00

The monthly income is $3,750.00

The maximum amount of rent should be guided by the 28/36 rule.  Housing should not exceed 28 percent, while total household expenditure should not exceed 36 percent.

The rent should be a maximum of

=28/100 x $3,750.00

=0.28 x  $3,750.00

=$1050

Maximum amount on rent $1,050