Answer:
Yearly Salary of Caroline = $ 47,448
Monthly salary of Caroline
[tex]=\frac{47448}{12}\\\\=3954[/tex]
As, 28/36 rule states that maximum of 28% of your monthly expenditure should be spent on housing finances.
28 % of $ 3954
[tex]=\frac{28}{100}*3954\\\\=\frac{110712}{100}\\\\=1107.12[/tex]
Option A) $ 1107 is , that maximum amount of rent that Caroline can pay.
