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Five Years Ago, Joshua Spent 28 Percent of His $45,000

Question 10

Multiple Choice

Five years ago, Joshua spent 28 percent of his $45,000 yearly income on his bachelor apartment. Today, Joshua is earning $60,000 annually. According to Engel's laws, what percentage of income will he spend on his new apartment?


A) less than 19 percent
B) about 28 percent
C) about 52 percent
D) more than 71 percent

Correct Answer:

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