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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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Under the original issue discount (OID) rules as applied to a three-year certificate of deposit:a. All of the income must be rec
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Dixie Mart plans to pay dividends of $1.36, $1.15, $1.35, and $0.40 at the end of the next four years, respectively. After that,
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The correct answer is C. $46.50.

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The future value is the dividend received on the share in a particular year while the rate of return is 11.4% (i.e. 0.114).

Applying the above formula,

PV_{1}  = 1.36 / (1 + 0.114)^{1} = 1.221\\

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PV_{6} = 82.40 / (1 + 0.114)^{6} = 43.114

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