Paula budgets 23% of her annual income for housing. If she budgets
$410 per month for housing, what is her annual income?
410*12=.23*AnnualIncome
solve for annual income
To find Paula's annual income, we need to determine how much the 23% of her income is equal to $410 per month.
Let's set up the equation:
23% of her annual income = $410
To find the annual income, we can divide both sides of the equation by 23% or 0.23:
Annual income = $410 / 0.23
Calculating this, we find:
Annual income = $1782.61
Therefore, Paula's annual income is approximately $1782.61.
To find Paula's annual income, we can use the information that she budgets 23% of her annual income for housing.
Step 1: Calculate the monthly income
Since she budgets $410 per month for housing and that is 23% of her monthly income, we can calculate her monthly income by dividing $410 by 0.23:
Monthly income = $410 / 0.23 = $1782.61
Step 2: Calculate the annual income
Now, to find the annual income, we simply multiply the monthly income by the number of months in a year:
Annual income = Monthly income x 12 = $1782.61 x 12 = $21,391.32
Therefore, Paula's annual income is approximately $21,391.32.