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WINSTONCH [101]
3 years ago
7

Ms. burke earns $32,000 per year and plans to buy a house. use the banker's rule to determine her maximum allowable mortgage.

Mathematics
1 answer:
MAVERICK [17]3 years ago
7 0
<span>For the answer to the question above bankers right now are looking for a borrower to not spend more than 28-35% of their gross income for housing expenses. Income of $32,000 a year is $2,667 per month. At a presumed 32% rate the maximum allowable mortgage payment is $2,667 x 0.32 = $850 per month. If Ms. Burke has excellent credit, say FICO over 775 and virtually no debts, then $1,000 per month might still be possible.</span>
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while shopping for clothes, Tracey spent 38$ less than 3 times what Daniel spent. write and solve an equation to find how much D
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\bold{\huge{\orange{\underline{Solution}}}}

\bold{\underline{ Given :- }}

  • <u>While </u><u>shopping </u><u>for </u><u>clothes </u><u>Tracey </u><u>spent </u><u>3</u><u>8</u><u>$</u><u> </u><u>less </u><u>than </u><u>3</u><u> </u><u>times </u><u>of </u><u>what </u><u>Daniel </u><u>spent </u>

\bold{\underline{ To\: Find :- }}

  • <u>We </u><u>have </u><u>to </u><u>determine </u><u>the </u><u>total </u><u>cost </u><u>spent </u><u>by </u><u>daniel</u>

\bold{\underline{ Let's \: Begin :- }}

Cost spent by Tracey for her clothes = 38$

Let assume the spending by Daniel is x

\bold{\underline{Therefore ,}}

\sf{ x / 3 = 38 }

\sf{ x  = 38 × 3 }

\sf{ x = 114 dollar }

\sf{\red{ Hence,\: Daniel\: spent\: 114 \: dollars\: on \: His\: clothes }}

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