The maximum mortgage payment allowed for someone with an annual salary of $62,550 is $1,459.50.
<h2>28/36 Rule</h2>
<h3>What is the 28/36 rule?</h3>
The 28/36 rule is used to calculate the amount of debt a person or a household should assume. The rule suggests that a lender's following expenses cannot be more than 28% of their monthly or annual income. They are listed as follows:
- Household Expense payments
- Primarily rent
- Mortgage payments
While the debt payments must not exceed 36% of their income.
<h3>Calculating mortgage payment</h3>
Keeping the above rule in view, the mortgage payment is calculated by multiplying the annual salary by 28% and dividing the same by 12, to calculate the mortgage payments monthly. As shown below:
62,550 x 28% = $17,514
17,514 / 12 = $1,459.50
The maximum mortgage payment allowed is $1,459.50
Learn more on maximum mortgage payment here: brainly.com/question/8409309
Answer:
Andrea has 83 cherries in stock at the end of the day.
Step-by-step explanation:
starts with 20 cherries
sold 17 cherries
3 cherries remain
get 4 times as many she starts with 20×4= 80
80 + the 3 that remained
Answer:
-2
Step-by-step explanation:
slope = y2 - y1 / x2 - x1
= 9 - (-3) / -2 -4
= 12 / -6
= -2
Answer:
General Formulas and Concepts:
<u>Pre-Algebra</u>
Order of Operations: BPEMDAS
- Brackets
- Parenthesis
- Exponents
- Multiplication
- Division
- Addition
- Subtraction
<u>Geometry</u>
Area of a Rectangle: A = lw
<u>Calculus</u>
Derivatives
Derivative Notation
Implicit Differentiation
Differentiation with respect to time
Derivative Rule [Product Rule]:
Step-by-step explanation:
<u>Step 1: Define</u>
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<u>Step 2: Differentiate</u>
- [Area of Rectangle] Product Rule:
<u>Step 3: Solve</u>
- [Rate] Substitute in variables [Derivative]:
- [Rate] Multiply:
- [Rate] Add:
Topic: AP Calculus AB/BC (Calculus I/II)
Unit: Implicit Differentiation
Book: College Calculus 10e
The first, third, and sixth are correct.