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17 August, 13:26

A common rule is that housing expenses plus other debt payments should not be more than 36% of your monthly income. Your monthly income is $4,300, and you have student loan payments of $321 per month. How much can you spend on housing?

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  1. 17 August, 17:08
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    Common rule of your salary

    => housing expenses + other debt payment should not be more than 36% of you monthly income.

    => 4 300 dollars is you monthly income.

    Let's solve the 36% of it

    => 4300 *.36 = 1548

    => 1548 - 321 for you student loan = 1227 dollars - the housing expenses.
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