For the answer to the question above, $187,500 is a cost of a house. 20%, or $37,500 is the down payment. The loan amount would be $187,500 - $37,500 = $150,000. If we assume the annual rate of the loan is 4.65% Then the monthly rate would be 4.65%/12 = 0.3875% If the loan is $150,000, the interest is 0.3875% The interest for the first month is $150,000 * 0.3875% = $581.25. You stated that their payment is $1,575. So the amount that pays off the loan is $1,575 - $581.25 = $993.75. At the end of the month, they owe $150,000 - $993.75 = $149,006.25 and for the second month, the amount of the payment that goes towards interest is $149,006.25 * 0.3875% = $577.40. and the amount that goes towards the loan is $997.60.
At the end of the second month, they owe $148,008.65. Regarding they realized income, we recommend a monthly loan payment not to exceed 28% of the monthly income.
So if a payment of $1,575 is 28% of Gross,
Then it must be
: $1,575 = 0.28*Gross. Gross = $5,625 monthly.
About $67,500 annually. About $33.75 an hour.
True. if you add two positive numbers, the sum will always be positive..
Because the area of a square is the length of one side multiplied by itself, the area of this square would be 39.0625.
But, this is not the answer that is asked for. The problem gives you 3 significant digits, so we need to round 39.0625 to 3 significant digits. This would be 39.1 square feet.
The answer is 8 Because if you replace x with 3 then 3+5=8
