please help! this is due in a couple hours.

Question

Use the interval 25%-30% to find the monetary range that is recommended for the monthly housing budget in each situation. Round to the nearest dollar.

Meghan makes $1,500 per week.

Answer 1

Hello, thank you for taking the time to post your question!

If Meghan makes $1,500 per week that means that her monthly income is

$1,500 x 4.3333  = $6,500 per month

Then if the interval that you’re after is 25%-30% you want to take that monthly value and multiply by 25% and 30% … so the range of values is

25% x $6500 = $1625

30% x $6500 = $1950

Therefore, the recommended monthly housing budget for Meghan is between $1,625 and $1,950

I hope that helps get you moving in the right direction! Feel free to reach out if you have any additional questions beyond that :)

Answer 2

Meghan's Monthly Income = $1,500 * 4 = $6,000

Meghan's Monthly Housing Expense (Low end of range) = $6,000 * 25% = $1,500

Meghan's Monthly Housing Expense (High end of range) = $6,000 * 30% = $1,800