Question

you can afford to pay a maximum of 1/2 of your monthly income for rent? True or false

Answer 1

Answer with explanation:

We will use $\frac{28}{36}$ rule here, to prove that, the statement given is Incorrect,which is you can afford to pay a maximum of 1/2 of your monthly income for rent.

$\frac{28}{36}$ rule, states that,you can use , 28% of gross monthly Income for Housing expenses, and 36 % of your gross monthly income is used for Debt purposes.

→→$\frac{1}{2}$ of monthly income =50 % of Monthly Income

we can use ,only 28% of Monthly income for rent Purpose.

False Statement