imagine youve just started a new job, earning a monthly salary of $4,500. youre looking to move out and find…

imagine youve just started a new job, earning a monthly salary of $4,500. youre looking to move out and find your own place. using the 30% rule, how much should you aim to spend each month on housing? choose 1 answer: a $1,000 b $1,350 c $1,500 d $2,000

imagine youve just started a new job, earning a monthly salary of $4,500. youre looking to move out and find your own place. using the 30% rule, how much should you aim to spend each month on housing? choose 1 answer: a $1,000 b $1,350 c $1,500 d $2,000

Answer

Explanation:

Step1: Identify the 30% rule

The 30% rule means spending 30% of income on housing.

Step2: Calculate housing - expense amount

The monthly income is $4500. We need to find 30% of 4500. The formula for finding a percentage $p$ of a number $n$ is $n\times\frac{p}{100}$. So, $4500\times\frac{30}{100}=45\times30 = 1350$.

Answer:

B. $1,350$