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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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Five days after signing a contract to purchase a new timeshare in North Carolina, the buyer cancels the timeshare contract. Acco
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Kraven Corp. borrows $100,000 by signing on a 1-year, 8% promissory note from General Finance Company and assigns $120,000 of it
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Answer and Explanation:

The journal entry is shown below:

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6 0
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Mr. and Mrs. Garcia have a total of $100,000 to be invested in stocks, bonds, and a money market account. The stocks have a rate
Alexeev081 [22]

Answer:

Explanation:

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Let x amount be invested in money account

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10,000 = 12(y+3x) + 8y + 4x / 100

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x + y + z = $100,000

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<u>2 Options are</u>

{(x,y,x), (x2,y2,z2)}

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7 0
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