Rental Math.

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Presentation transcript:

Rental Math

*Housing to Income Ratio is 28% of monthly GROSS income • Finding Maximum monthly rent for the gross (before taxes) monthly income EX: $1000 x 28% = $280 maximum rent

• If paid by the hour: hourly wage x # of hours worked weekly x weeks in year = gross pay yearly / 12 months = gross monthly wage x 28% = maximum rent EX: $6.00 x 40hours = $240 x 52 weeks = $12,480/12 = $1040 x 28% = $291.20

If paid by week: $240 x 52 weeks = $12,480/12 = $1040 x 28% = $291.20 • If paid by the month: $1040 x 28% = $291.20 • If paid by the year: $12,480/12 = $1040 x 28% = $291.20

1. $20 hourly 2. $16.50 hourly 3. $8 hourly 4. $6.65 hourly 5. $450 weekly 6. $190 weekly 7. $700 weekly 8. $1000 weekly 9. $1000 monthly 10. $1200 monthly 11. $2600 monthly 12. $4500 monthly 13. $18,000 yearly 14. $44,250 yearly 15. $68,500 yearly 16. $110,500 yearly

1. $20 hourly = $970.67 2. $16.50 hourly = $800.80 3. $8 hourly = $388.27 4. $6.65 hourly = $322.75 5. $450 weekly = $546 6. $190 weekly = $230.53 7. $700 weekly = $849.33 8. $1000 weekly = $1213.33 9. $1000 monthly = $280 10. $1200 monthly = $336 11. $2600 monthly = $728 12. $4500 monthly = $1260 13. $18,000 yearly = $420 14. $44,250 yearly = $1032.50 15. $68,500 yearly = $1598.33 16. $110,500 yearly = $2578.33