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ruslelena [56]
3 years ago
14

Using the standard 28/36 guidelines, what is the maximum mortgage payment allowed for someone with an annual salary of $60,750?

a. $1,215.00 b. $1,417.50 c. $1,701.00 d. $1,822.50
Mathematics
2 answers:
Anna11 [10]3 years ago
7 0

\frac{28}{36} rule says that 28 % of your total income should be spent on Housing finances and 36 % of your gross total income should be spend for Debts.

Annual Salary = $ 60,750

Maximum mortgage payment=28% of $ 60,750

=\frac{28}{100} \times 60750=\frac{1701,00}{100}\\\\ =1701

Maximum ,mortgage payment allowed for someone with an annual salary of $60,750= $ 1,701.00→→→Option (C)


Scilla [17]3 years ago
7 0

Answer: Answer B - 1417.50

Step-by-step explanation:

On edgen the correct answer is B

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