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:
7x + 14
Step-by-step explanation:
the first thing to do is expand the parentheses/brackets.
3(5x + 2) -2(4x - 4) will be
3(5x) + 3(2) -2(4x) -2(-4)
= 15x + 6 - 8x + 8
collect like terms
15x - 8x + 6 + 8 = 7x + 14
the answer is 7x + 14
Answer:
No, we can't determine how many coins Jada has.
She will have 22 pennies and 33 dimes.
Elena packed 48 cubes.
Each cube has an edge of 1 centimeter.
The number of layers that Elena can make depends on how each layer is arranged and depends on how many cubes are there in a layer.
Assume that each layer has only 1 cube, then there are 48 layers.
40x - 24 - 33x - 77 = 102
40x - 33x = 102 + 24 + 77
7x = 203
x = 29
