Fatima saved $15,000 toward a down payment on a house. She makes $5,375 a month. What is the maximum loan she can take on a hous
2 answers:
We will use ratio to determine how much can Fatima afford as a loan for her house.
Let gross income of Fatima = $ x
Amount earned by Fatima monthly= $ 5,375
36 % of 5,375=
$
Maximum amount that can be paid as a loan monthly = $ 1935
Total money that she can pay yearly for house loan if Fatima allowable money for paying loans is $ 1935=
$
Money saved as a down payment = $ 15,000
So, maximum amount loan Fatima can take on a house= 23220 + 15000=$38,220
She is not allowed for loan for house if the cost of house is any of the four options.
(B) 28 % of $ 5375=
$
Maximum amount that Fatima spend on her house monthly= $ 1505
Amount that fatima can spend yearly on her house = 1505× 12 =$18,060
For the four options given , none of the option matches Fatima's expectations.
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Answer:
0.8%.
Step-by-step explanation:
Given:
At the start of the month, the value of an investment was $73.42.
By the end of the month, the value of the investment changed by a loss of $13.53.
Question asked:
What was the value, in dollars, of the investment at the end of the month?
What was the percent loss?
Solution:
At the start of the month, the value of an investment = $73.42.
Loss = $13.53.
<u><em>The value, of the investment at the end of the month = The value of an investment at the start of the month - loss</em></u>
The value, of the investment at the end of the month = $73.42 - $13.53
= $59.89
Thus, the value, of the investment at the end of the month is $59.89.
Now, we will find percent loss:-
Thus, percent loss on investment by the end of the month is 0.8%.