4. Abe makes $18.50 per hour. He works 37 hours a week. He pays 23% of his gross earnings in federal and state taxes and saves 5% of his monthly gross income. He is considering renting an apartment that will cost $1,500 per month. a. Is this monthly rental fee within the recommended 25-30% housing expense range? b. Based on his expenses, can he make the monthly payments? Anpli

Algebra and Trigonometry (6th Edition)
6th Edition
ISBN:9780134463216
Author:Robert F. Blitzer
Publisher:Robert F. Blitzer
ChapterP: Prerequisites: Fundamental Concepts Of Algebra
Section: Chapter Questions
Problem 1MCCP: In Exercises 1-25, simplify the given expression or perform the indicated operation (and simplify,...
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Jessicas annual salary:
4. Abe makes $18.50 per hour. He works 37 hours a week. He pays 23% of his
gross earnings in federal and state taxes and saves 5% of his monthly gross
income. He is considering renting an apartment that will cost $1,500 per
month.
a. Is this monthly rental fee within the recommended 25-30% housing
expense range?
b. Based on his expenses, can he make the monthly payments?
Application fee: 2% of 1 month's rent
Transcribed Image Text:Jessicas annual salary: 4. Abe makes $18.50 per hour. He works 37 hours a week. He pays 23% of his gross earnings in federal and state taxes and saves 5% of his monthly gross income. He is considering renting an apartment that will cost $1,500 per month. a. Is this monthly rental fee within the recommended 25-30% housing expense range? b. Based on his expenses, can he make the monthly payments? Application fee: 2% of 1 month's rent
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