Question

components of renting
tobias earns $6,215 per month. he has monthly expenses of $2,475 excluding rent. he does not want his rent to exceed 20% of his monthly income. what is the max amount he is willing to spend on rent each month?
$495 $4,972 $1,243 $3,740

Explanation:

Step1: Identify the relevant value

Tobias's monthly income is $6,215.

Step2: Calculate 20% of income

To find 20% of $6,215, we use the formula: $ \text{Amount} = 0.20 \times \text{Income} $
Substitute the income: $ 0.20 \times 6215 = 1243 $
So the maximum rent he will spend is $1,243.

Answer:

$1,243