David wants to set a budget for his monthlt income. he knows it is unwise to...

David wants to set a budget for his monthlt income. he knows it is unwise to spend more than 30% of his income on housing and he plans to save 10% of his pay. if he earns $2800 after each month:

a. what is the dollar limit he can spend on housing?

b. what dollar amount is he contributing to his savings each month?

Solutions

Expert Solution

a) Limit of spending on housing
Earning	$ 2,800
Maximum spend on housing %	30%
Maximum spend on housing	$ 840

b) Contribution to savings
Earning	$ 2,800
Saving %	10%
Maximum spend on housing	$ 280

Please Like the solution if satisfied with the answer and if any query please mention it in comments...thanks

ekkarill92 answered 1 year ago

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