Determine whether the spending pattern described is at, above, or below the national average. Assume that any salariesor wages are after tax.
-A single 48-year old man with a monthly salary of $4800 spends $1200 on rent.

Question

Determine whether the spending pattern described is at, above, or below the national average. Assume that any salariesor wages are after tax. 
-A single 48-year old man with a monthly salary of $4800 spends $1200 on rent.

Quizplus · Accepted Answer

Spending $1200 on rent from a $4800 monthly salary represents 25% of his income, which is considered below average when compared to the general recommendation that housing costs should not exceed 30% of one's income.

Determine Whether the Spending Pattern Described Is At, Above, or Below