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Manuel Labore earns $19.50 / hr. and works an average of 38 hours a week. He is considering to renting a house for $1,700 / month. His real estate friend recommends he spends no more than 28% of his monthly income in housing.

A) What is 28% of Manuel’s monthly income?

B) Can he afford the home

Respuesta :

Answer:

see below

Step-by-step explanation:

assuming 4 weeks in a month

$19.50 * 38 * 4 =  $ 2964   per month

.28 * 2964 = 829.92

He really cannot afford this rent......

Answer:

A.    $829.92        B. No

Step-by-step explanation:

A.   38 hours time $19.50 = $741 per week; Monthly: $741 x 4 = $2,964.00

      28% of monthy income = .28 x $2,964.00 = $829.94

B.  No, he can not afford the home.     Cost of the home is $1, 700.00

      ( No more than 28%) well 28% of $2,964 = $829.94