Answer :
The maximum amount per month that Inez would spent on rent is $1170 knowing that he could spend no more than 30% of the take home pay.
Here Inez heard that a a general rule, he should pend no more than 30% of her take-home pay on rent. If Inez' take-home pay i $46. 800 per year.
The term Take-home pay is the net amount of income received after the deduction of taxes, benefits, and voluntary contributions from a paycheck. It is the difference resulting from the subtraction of all deductions from gross income.
Pay = $46,800
Total allowed = 46,800 x 0.30
Total allowed = $14,040
Now since we know that there are 12 months in a year, we need to divide the Total allowed by 12 to find how much Inez can pay in rent per month.
14,040 / 12 = $1,170
Following the rule that he could not spend more than certain of the take home pay he should rent $1170.
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