Cade's monthly income is $3,859 After accounting for all his expenses, he has set aside 27% of his income for rent. He finds an apartment that costs $1,050 per month. Does this fit within his rent budget?
Answer
A
It is way under his budgeted amount.
B
It is slightly over his budgeted amount.
C
It is way over his budgeted amount.
D
It is slightly lower than his budgeted amount.
Explanation
Cade’s rent budget is 27% of $3,859: 0.27 × $3,859 = $1,041.93. The apartment costs $1,050, which is $8.07 more than that amount. So it is slightly over his budgeted amount.
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