10
QuizMultiple Choice

Components of Renting — Quiz

Question 10 • Financial Algebra/Mathematics

Shiloh earns $4,823 per month. She has monthly expenses of $1,798 excluding rent. She does not want her rent to exceed 28% of her monthly income. What is the max amount she is willing to spend on rent each month?

Answer
A
503 point 4 4 dollars
B
1 dollars comma 350 point 4 4
C
3 dollars comma 025
D
$3,472.56

Explanation

She limits rent to 28% of her monthly income, so calculate $4,823 × 0.28 = $1,350.44. Therefore, the maximum she is willing to spend on rent is $1,350.44 per month, matching choice A.

AI-written and checked against the verified answer.