Question

cades monthly income is $3,859. after accounting for all his expenses, he has set aside 27% of his income for rent. he finds an apartment that costs $1,050 per month. does this fit within his rent budget?
it is way under his budgeted amount.
it is slightly over his budgeted amount.
it is slightly lower than his budgeted amount.
it is way over his budgeted amount.

Explanation:

Step1: Calculate rent budget

To find 27% of $3,859, use the formula: $Budget = 0.27\times3859$.
$0.27\times3859 = 1041.93$.

Step2: Compare with apartment cost

The apartment costs $1,050. Compare $1041.93$ (budget) and $1050$ (cost).
Since $1050 > 1041.93$, the cost is slightly over the budget.

Answer:

B. It is slightly over his budgeted amount.