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1 answer:
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Answer:
b. $30,000
Step-by-step explanation:
According to the banker rule, the minimum annual income needed to borrowed should be maximum of 2.5% of the annual income
Given that
The amount borrowed for purchased of the home is $75,000
So based on the above information, the minimum annual income is
= $30,000
By multiplying the borrowed amount with the given percentage we can get the required minimum annual income and the same is to be shown above