Question
- The Marshall family budgeted
36,900 for housing. How much
did they budget for housing?
36,900 for housing. How much
did they budget for housing?
Ask by Stuart Thornton. in the United States
Dec 18,2024
Upstudy AI Solution
Tutor-Verified Answer
Answer
The Marshall family budgeted $9,225 for housing.
Solution
To find out how much the Marshall family budgeted for housing, we need to calculate
First, convert
Now, multiply their annual income by
Calculating this:
Thus, the Marshall family budgeted $9,225 for housing.
Answered by UpStudy AI and reviewed by a Professional Tutor
Like
error msg
Explain 
Simplify this solution Beyond the Answer
The Marshall family planned to allocate 25% of their annual income for housing. To calculate the housing budget, we take 25% of $36,900. This is done by multiplying $36,900 by 0.25 (which is equivalent to 25%), resulting in a housing budget of $9,225. So, the Marshalls set aside $9,225 for their housing expenses!
Now, let’s say the Marshall family instinctively decides to cut back on their budget, thinking they can save some money. A common mistake people make is underestimating housing expenses. It’s essential to account for all costs, including utilities and maintenance, to ensure the budget remains realistic and sustainable. Being prudent with the budget is important, but cutting corners can sometimes lead to unforeseen financial strain.
