Question

evaluating hermans rent budget
herman has a monthly income of $4,500. after accounting for all his expenses, he has set aside 28% of his income for rent. he finds an apartment that costs $1,200 per month.
does this fit within his budget for rent?
it is way over his budgeted amount. it is slightly over his budgeted amount. it is slightly lower than his budgeted amount. it is way under his budgeted amount.

Explanation:

Step1: Calculate budgeted rent

To find the budgeted rent, we calculate 28% of Herman's monthly income. The formula for finding a percentage of a number is $\text{Percentage} \times \text{Total Amount}$. So, we have $28\%$ of $\$4500$. Converting the percentage to a decimal, $28\% = 0.28$. Then, the budgeted rent is $0.28\times4500$.
Calculating that: $0.28\times4500 = 1260$. So, Herman's budgeted rent is $\$1260$ per month.

Step2: Compare with apartment cost

The apartment costs $\$1200$ per month. Now, we compare $\$1200$ with $\$1260$. Since $1200 < 1260$, the apartment cost is less than the budgeted amount. The difference is $1260 - 1200 = 60$, which is a small difference, so it is slightly lower than his budgeted amount.

Answer:

It is slightly lower than his budgeted amount.