To find Myrna's annual income, we can first determine her total housing budget for the year. Since she budgets $400 per month and there are 12 months in a year, her total housing budget for the year is:
$400/month x 12 months = $4,800/year
We know that this amount represents 22% of her annual income, so we can set up the following equation to find her total annual income (let x be her annual income):
0.22x = $4,800
To solve for x, we divide both sides by 0.22:
x = $4,800 / 0.22
x ≈ $21,818.18
Therefore, Myrna's annual income is approximately $21,818.18.
Myrna budgets 22% of her annual income for housing. If she budgets
$400 per month for housing, what is her annual income?
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