A common rule is that housing expenses plus other debt payments should not be more than 36% of your monthly income. Your monthly income is $4,300, and you have student loan payments of $321 per month. How much can you spend on housing?

Question

Malia Pittman

Mathematics

22 March, 08:35

A common rule is that housing expenses plus other debt payments should not be more than 36% of your monthly income. Your monthly income is $4,300, and you have student loan payments of $321 per month. How much can you spend on housing?

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Answers (1)

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Tania Andrews · Answer 1

Common rule of your salary

=> housing expenses + other debt payment should not be more than 36% of you monthly income.

=> 4 300 dollars is you monthly income.

Let's solve the 36% of it

=> 4300 *.36 = 1548

=> 1548 - 321 for you student loan = 1227 dollars - the housing expenses.