Question

Myrna budgets 22% of her annual income for housing. If she budgets
$400 per month for housing, what is her annual income?
a. $43,636
b. $4,800
c. $1,818
d. $21,818

Answer 1

We can start by setting up a proportion:

22/100 = 400/x

where x is her annual income.

To solve for x, we can cross-multiply:

22x = 40000

Then we can divide both sides by 22:

x = 40000/22

x ≈ 1818.18

So her annual income is approximately $1818.18, which means the answer is (c).