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Olenka [21]
1 year ago
7

Maxine earns $1250 dollars a month. whats is the maximum amount she should use for budget for housing?

Mathematics
1 answer:
jok3333 [9.3K]1 year ago
3 0

Answer:

The National Housing Act of 1937 established guidelines for maximum rents for low-income families.  Originally the maximum rent threshold was set at 20%, however this increased to 30% in 1981 (and has remained at this level ever since).  This figure is used to determine how much of your gross monthly income you should spend on rent.

The 28% Rule is used for determining how much of your gross monthly income should be used for a mortgage, however the FHA's threshold is a little higher at 31% of your gross monthly income on a mortgage.

Renting:

30% of $1,250 = 0.3 × 1250 = $375

Mortgage 28% Rule:

28% of $1,250 = 0.28 × 1250 = $350

Mortgage 31% FHA:

31% of $1,250 = 0.31 × 1250 = $387.50

Therefore, discounting the higher FHA's threshold, the maximum amount to budget for housing is:

  • $375 (if renting)
  • $350 (if buying)
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<span>2028/3.3333333333333=x </span>
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3 years ago
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Mashutka [201]

Answer:

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Step-by-step explanation:

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Your sock drawer has two white socks, four brown socks, and two black socks. You randomly pick a sock and put it on your left fo
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Answer:

The probability of this occurring is 1/7

Step-by-step explanation:

Okay, here is a probability question.

From the question, we can identify the following;

Total number of socks = 2 + 4 + 2 = 8 socks

Since we are not given the order in which the socks was worn, we can assume any order.

Let’s say the right leg socks was worn first.

From the question, the socks on the right leg is a brown one.

So now let’s calculate the probability of selecting a brown socks out of the mix

That would be ;

number of brown socks/ total number of socks = 4/8 = 1/2

Now, for the left foot, we are having white sock here.

Kindly recall that since we already have a sock on the right foot, we have 7 socks left to pick from.

Now we need the probability of picking a white sock from the total 7. That would be ; 2/7

So the probability of both action occurring is simply the product of both probabilities and that is ;

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6 0
2 years ago
Two planes, which are 2235 miles apart, fly toward each other. Their speeds differ by 95 mph. If they pass each other in 3 hours
lora16 [44]

Answer:

325 mph and 420 mph

Step-by-step explanation:

If the speed of the slower plane is x, then the speed of the faster plane is x + 95.

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x = 325

x + 95 = 420

The speed of the planes is 325 mph and 420 mph.

5 0
3 years ago
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