Question

richard's annual take home pay is $34200. what is the maximum amount that he can spend per month paying off credit cards and loans and not be in danger of credit overload?

Answer 1

Answer: $570

Step-by-step explanation:

Answer 2

Given is :

The annual income of Richard = $34200

Hence, his monthly income becomes = $\frac{34200}{12}$ = $2850

So, the maximum amount that he can spend per month paying off credit cards and loans and not be in danger of credit overload can be a maximum of 20% of this income.

So, 20% of 2850 is = $570

Hence, approximately $570 can be spent a month.

As, the question has no options to choose from, but the question is complete in itself, so this is the best possible answer.