Independent Living

What is the recommended MONTHLY housing budget range for someone with an annual salary of 96K?

• $2000 - $2400

• $2400 - $2880

• $200 - $240

• $24,000 - $28,800

What is the recommended MONTHLY housing budget range for someone with a gross monthly salary of $8500?

• $2125 - $2550

• $1771 - $2125

• $4250 - $5100

• Not enough information given to find answer.

What is the recommended monthly budget range housing for someone with an semi-monthly salary of $1700?

• $850 - $1020

• $425 - $510

• $921 - $1105

• $1842 - $2210

Tom makes $16.75 per hour. He works 40 hours a week. He pays 22% of his gross earning in federal and state taxes and saves 5% of his monthly gross income. He is considering renting an apartment that will cost $800 per month. Is this monthly rental fee within the recommended 25%-30% housing expense range?

• Yes, $800 is within the $725.83 - $871

• No, $800 is not within the $725.83 - $871

• Yes, $800 is not within the $529.86- $635.83 but is still affordable

• NO, $800 is not within the $529.86- $635.83

Tom makes $23 per hour. He works 200 hours a month. He is considering renting an apartment that will cost $1025 per month. Is this monthly rental fee within the recommended 25%-30% housing expense range? Why?

• Yes, $1025 is within the $1150- $1380

• No, $1025 is not within the $1150- $1380

• Not enough information to answer

Sally makes $90,000 annually. She is considering renting an apartment that will cost $1900 per month. Is this monthly rental fee within the recommended 25%-30% housing expense range? Why?

• Yes, $1900 is within the $1875- $2250

• No, $1900 is not within the $1875- $2250

• Not enough information to answer

The square footage and monthly rental of 8 similar one-bedroom apartments yield the linear regression y = 0.865x + 145.14 where x represents the square footage of the apartment and y represents the monthly rental price. What would be the monthly rent for an apartment that has 900 square feet?

• $923.64

• $152.06

• $145.83

• $222.99

The square footage and monthly rental of 27 similar one-bedroom apartments yield the linear regression y = 0.578x + 273.14 where x represents the square footage of the apartment and y represents the monthly rental price. What would be the monthly rent for an apartment that has 1212 square feet?

• $274.70

• $343.19

• $973.68

• $429.20

Rupert is renting a 750 square foot apartment for $850. The apartment complex requires the first month’s rent, a security deposit equal to 75% of one month’s rent, a $75 application fee, and the last month’s rent. How much should Rupert plan on paying to move into the apartment on the 1^st of the month?

• $2412.50

• $3162.50

• $2700

• $3450

Emily and Vanessa are renting a 1000 square foot apartment for $1050. The apartment complex requires the first month’s rent, a security deposit equal to 35% of one month’s rent, a $125 application fee, and the last month’s rent. How much should they plan on paying to move into the apartment on the 1^st of the month (total - not individually)?

• $2592.50

• $3592.50

• $3275

• $4275