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nikdorinn [45]
3 years ago
9

Using the standard 28/36 guidelines, if the maximum monthly mortgage payment allowed for someone applying for a home loan is $1,

085, what is their annual income?
a.$36,167
b.$46,500
c.$65,100
d.$162,750
Business
2 answers:
patriot [66]3 years ago
5 0

Answer:

Answer to this question is b.46500

Explanation:

According to 28/36 guidelines, a household shall not spend more than 28% of its monthly income on housing expenses.

Applying the above rule, the monthly income of a household shall be calculated as follows:

28% x household monthly income=1085$

household monthly income=1085/28%=3875

Annual household income=3875 x 12=46500

Answer to this question is b.46500

rosijanka [135]3 years ago
4 0

the answer is letter B. $46,500

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Read 2 more answers
intext:"A corporation issued 6,000 shares of its $2 par value common stock in exchange for land that has a market value of $84,0
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Answer:

Date     Account Titles and Explanation              Debit       Credit

              Land                                                         $84,000

                 Common stock                                                     $12,000

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