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REY [17]
2 years ago
14

2. Jessica's financial advisor believes that she should spend no more than 28% of her gross monthly income for housing. She has

determined that amount is $1,600 per month. Based on this amount and her advisor's recommendation, what is Jessica's annual salary?​
Mathematics
1 answer:
scoray [572]2 years ago
3 0

Jessica's annual salary is $68571.43.

Data;

  • percentage saved for housing = 28%
  • amount saved annually = $1600

<h3>Percentage</h3>

This is the ratio of a number to the entire value and multiplied by 100

The percentage set aside for housing is given as 28% which is $1600.

Let find 28% of x which is equal to 1600

\frac{28}{100} = \frac{1600}{x}

cross multiply both sides and solve for x

\frac{28}{100}  = \frac{1600}{x}\\ 28*x  = 100*1600\\28x = 160000\\

Divide both sides by the coefficient of x

\frac{28x}{28} = \frac{160000}{28}\\ x = 5714.28

Her monthly income is $5714.28.

Let's multiply this by 12 (months in a year) to determine her gross monthly income.

5714.28*12 = 68571.43

From the above calculations, Jessica's annual salary is $68571.43.

Learn more on percentage here;

brainly.com/question/25567167

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