Question

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 under his budgeted amount. it is way over his budgeted amount. it is slightly lower than his budgeted amount.

Explanation:

Step1: Calculate rent budget

Find 25% of $5,489. Formula: $0.25\times5489$.
$0.25\times5489 = 1372.25$.

Step2: Compare with apartment cost

Apartment cost is $1,850. Compare $1,850$ and $1,372.25$.
$1850 > 1372.25$, so it's over the budget. The difference is $1850 - 1372.25 = 477.75$, which is a slight over (not "way over" as the difference isn't extremely large relative to the budget).

Answer:

It is slightly over his budgeted amount.