Answer:
The National Housing Act of 1937 established guidelines for maximum rents for low-income families. Originally the maximum rent threshold was set at 20%, however this increased to 30% in 1981 (and has remained at this level ever since). This figure is used to determine how much of your gross monthly income you should spend on rent.
The 28% Rule is used for determining how much of your gross monthly income should be used for a mortgage, however the FHA's threshold is a little higher at 31% of your gross monthly income on a mortgage.
Renting:
30% of $1,250 = 0.3 × 1250 = $375
Mortgage 28% Rule:
28% of $1,250 = 0.28 × 1250 = $350
Mortgage 31% FHA:
31% of $1,250 = 0.31 × 1250 = $387.50
Therefore, discounting the higher FHA's threshold, the maximum amount to budget for housing is:
- $375 (if renting)
- $350 (if buying)
I think it would be 300, because 15% of x=45, so .15x=45, x= 45/.15=300
The equation that is satisfied by all of the plotted points would be F. 3x because the y-intercept is at 0 so there wouldn't be one and the graph has a ratio of 3/1 so for every 3 numbers the line moves up it moves 1 space to the right, also indicating that it is positive.
