Anne budgets 22% of her income for housing and 24% of her income
for food. If she earns $15,000 per year, how much must she budget
monthly for housing and food?
a. $675
b. $587.50
c. $530.77
d. $575
First, we need to find Anne's monthly income by dividing her annual income by 12:
$15,000 / 12 = $1,250 per month
Next, we need to calculate how much she should budget for housing and food:
Housing budget: $1,250 x 0.22 = $275 per month
Food budget: $1,250 x 0.24 = $300 per month
Finally, we add the two budgets together to find the total amount she should budget monthly for housing and food:
$275 + $300 = $575
Therefore, the answer is d. $575.