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It is recommended that you don't spend over 20% of your annual salary on housing if I make 55000 a year, what should my budget be on housing?

Answer :

Answer:

$11,000

Explanation:

Annual Salary = $55,000

The recommendation is that you do not spend over 20% of your annual salary on housing.

Therefore, the maximum amount that can be budgeted for housing will be:

[tex]\begin{gathered} =20\%\text{ of Annual Salary} \\ =20\%\text{ of 55,000} \end{gathered}[/tex]

We simplify our result.

[tex]\begin{gathered} =\frac{20}{100}\times55,000 \\ =20\times550 \\ =\$11,000 \end{gathered}[/tex]

You should not budget more than $11,000.

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