Question

components of renting
armandos monthly income is $5,489. after accounting for all his expenses, he has set aside 25% of his income for rent.
he finds an apartment that costs $1,850 per month. does this fit within his rent budget?
it is slightly over
his budgeted
amount.
it is way over his
budgeted amount.
it is slightly lower
than his budgeted
amount.
it is way under his
budgeted amount.

Explanation:

Step1: Calculate the rent budget

First, we need to find 25% of Armando's monthly income. The formula to find a percentage of a number is $\text{Percentage} \times \text{Number}$. Here, the percentage is $25\%$ or $0.25$ and the number is his monthly income of $\$5,489$. So we calculate $0.25\times5489$.
$0.25\times5489 = 1372.25$. So his rent budget is $\$1,372.25$.

Step2: Compare the apartment cost with the budget

The apartment costs $\$1,850$ per month. Now we compare $\$1,850$ with $\$1,372.25$. Since $1850> 1372.25$, we check how much more it is. $1850 - 1372.25=477.75$. The difference is $\$477.75$, which is a relatively small overage compared to the budget (since the budget is around $\$1372$ and the overage is about $\$478$), so it is slightly over his budgeted amount.

Answer:

It is slightly over his budgeted amount.