How much interest was earned on $4,000 compounded monthly given the terms? The terms of the video are right below in the image. The answer choices are $4,509.41 seconds $509.31$502.04$4,502.04

You've worked up a budget and find that you have $1500 per month available for all your personal expenses combined. According to the spending averages in Figure 4.1, how much should you be spending on rent? Solution Figure 4.1 shows that the percentage of spending for housing varies very little across age groups; it is close to 1/3, or 33%, for all the groups. Based on this average and your available budget, your rent should be about 33% of $1500, or $500 per month. That's lower than rents for apartments in most college towns, which means you face a choice: Either you can put a higher proportion of your income toward rent-in which case you'll have less left over for other types of expenditures-or you can seek a way of keeping rent down, such as finding a roommate. Now try Exercises 35-40