Name the algebraic property that is being shown in the example: 4(x+3) = 4x + 12
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Answer:
$40,899.43
Step-by-step explanation:
Assume an acceptable mortgage repayment plan of 27% of pretax monthly income.
Annual realized Income is given by the product of the monthly mortgage payment by 12 months divided by the acceptable rate.
*Note that acceptable rate/proportion is relative and depends on the individual.