Richard's annual take-home pay is 28500. What is the maximum amount that he can spend per month paying off credit cards and loans and not be in danger of credit overload?

Question

Mathematics

Selina Williams

28 April, 06:00

Richard's annual take-home pay is 28500. What is the maximum amount that he can spend per month paying off credit cards and loans and not be in danger of credit overload?

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Mikaela Barron · Answer 1

To answer the problem above, annual means yearly, to know the maximum amount that he can spend per month we simply divide the annual take-home pay with 12 months exactly. So 28500 / 12 = 2375. Richard can spend not more than 2375 to not be in danger of credit overload.