Round any decimals to the nearest penny.

Question

Your fixed expenses are $1,045.32/month. What is your minimum realized income per month if your expenses are 36%?
$
/month

Answer 1

To find your minimum realized income per month given that your expenses are 36%, you can use the following formula:

\[ \text{Income} = \frac{\text{Expenses}}{\text{Expense Percentage}} \]

In this case, your expenses are $1,045.32, and the expense percentage is 36% (or 0.36 in decimal form).

Now, plug in the numbers:

\[ \text{Income} = \frac{1,045.32}{0.36} \approx 2,905.33 \]

So, your minimum realized income per month is approximately $2,905.33.