Question

The Walters bought a house and calculated they would pay 28% of their combined income of $5436.68 toward their monthly mortgage payment on the house. How much will the Walters pay for their monthly mortgage payment?

Answer 1

We have been given that the Walters bought a house and calculated they would pay 28% of their combined income of $5436.68 toward their monthly mortgage payment on the house.

To find the amount of monthly mortgage payment, we will find 28% of combined income.

$\text{Amount of monthly mortgage payment}=\ 5436.68\times \frac{28}{100}$

$\text{Amount of monthly mortgage payment}=\ 5436.68\times 0.28$

$\text{Amount of monthly mortgage payment}=\ 1522.2704$

$\text{Amount of monthly mortgage payment}\approx \ 1522.27$

Therefore, the Walters will pay approximately $\ 1522.27$ for their monthly mortgage payment.