Luciana has a monthly income of $5,123 After accounting for all her expenses, she has set aside 29% of her income for rent. She finds an apartment that costs $1,480 per month. Does this fit within her budget for rent?
Answer
A
It is way under her budgeted amount.
B
It is slightly over her budgeted amount.
C
It is way over her budgeted amount.
D
It is slightly lower than her budgeted amount.
Explanation
Luciana’s rent budget is 29% of $5,123: 0.29 × $5,123 = $1,485.67. The apartment costs $1,480, which is $5.67 less than her budgeted amount, so it is slightly lower.
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