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Answer:
A = $13,660.81
Step-by-step explanation:
P (principal) = $4,800.00
I (interest) = $8,860.81
First, convert R as a percent to r as a decimal
r = R/100
r = 6.2/100
r = 0.062 rate per year,
Then solve the equation for A
A = P(1 + r/n)nt
A = 4,800.00(1 + 0.062/4)(4)(17)
A = 4,800.00(1 + 0.0155)(68)
A = $13,660.81
Answer:
48
12 (the number of months in a year) multiplied by 4 (the number of people)
The maximum mortgage payment allowed for someone with an annual salary of $73.025 would be $2,190.75 per month, so the correct option is A.
<h2><u>How to determine the amount using the standard 28/36 guides?</u></h2>
To determine, using the standard 28/36 guidelines, what is the maximum mortgage payment allowed for someone with an annual salary of $73,025, the following calculation must be made:
- ((73025 x 36) / 100) / 12 = X
- (2,628,900 / 100) / 12 = X
- 26,289 / 12 = X
- 2,190.75 = X
Therefore, the maximum mortgage payment allowed for someone with an annual salary of $73.025 would be $2,190.75 per month.
Learn more about mortgages in brainly.com/question/20589209
Answer:
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