Ashleigh's monthly income is $4,865 After accounting for all her expenses, she has set aside 30% of her income for rent. She finds an apartment that costs $1,400 per month. Does this fit within her rent budget?
Answer
A
It is slightly lower than her budgeted amount.
B
It is way over her budgeted amount.
C
It is slightly over her budgeted amount.
D
It is way under her budgeted amount.
Explanation
Find 30% of Ashleigh’s monthly income: $4,865 × 0.30 = $1,459.50. The apartment costs $1,400, which is $59.50 less than her rent budget, so it is slightly lower than her budgeted amount.
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