The maximum mortgage payment allowed for someone with an annual salary of $62,550 is $1,459.50.
<h2>28/36 Rule</h2>
<h3>What is the 28/36 rule?</h3>
The 28/36 rule is used to calculate the amount of debt a person or a household should assume. The rule suggests that a lender's following expenses cannot be more than 28% of their monthly or annual income. They are listed as follows:
- Household Expense payments
- Primarily rent
- Mortgage payments
While the debt payments must not exceed 36% of their income.
<h3>Calculating mortgage payment</h3>
Keeping the above rule in view, the mortgage payment is calculated by multiplying the annual salary by 28% and dividing the same by 12, to calculate the mortgage payments monthly. As shown below:
62,550 x 28% = $17,514
17,514 / 12 = $1,459.50
The maximum mortgage payment allowed is $1,459.50
Learn more on maximum mortgage payment here: brainly.com/question/8409309
Answer:
8. rhdvevshbsbbdbdsbsbzjzjd
Answer:
16oz=1lbs
First you need to see how many ounces equals three pounds, so you wanna go 16*3=48
You bought 48 ounces
You now take 48/2=24
You can fill 24 cracks with 3 pounds of cement
Step-by-step explanation:
Answer:
7X8
Step-by-step explanation:
There is 7 spaces along one side and 8 along the other, area=l x w (length multiplied by width)
The absolute value of a real number is a positive value of the number. Which means that the absolute value is the distance from zero of the number line. However, that of the complex numbers is the distance from the origin to the point in a complex plane.
