Using the standard 28/36 guidelines, what is the maximum mortgage payment allowed for someone with

Mathematics

1 answer:

Nitella [24]1 year ago

4 0

The maximum mortgage payment allowed for someone with an annual salary of $83,750 would be $2512.50 per month.

<h2><u>What is the standard 28/36 guidelines?</u></h2>

To determine, using the standard 28/36 guidelines, what is the maximum mortgage payment allowed for someone with an annual salary of $83,750, the following calculation must be made:

Annual salary x 36% / months = X
((83750 x 36) / 100) / 12 = X
(3,015,000 / 100) / 12 = X
30150 / 12 = X
2512.50 = X

Therefore, the maximum mortgage payment allowed for someone with an annual salary of $83,750 would be $2512.50 per month.

Learn more about maths in brainly.com/question/20589209

You might be interested in

MATH!!! 15 points ;)) find the volume of the composite figure

andrezito [222]

Answer:

(2*2*1.5*1/3)+(2*1.5*4)= 14

Step-by-step explanation:

To find the area of a pyramid, you use the equation of 1/3 *lwh. When we place the values in there, we get 2*2*1.5*1/3, which is equal to 2. Then we solve the bottom part. Since it is a rectangular prism, we use the equation of lwh. When we insert the values, we get 2*1.5*4, which is equal to 12. Now, we take these two values of 2 and 12 and we combine them, giving us our final answer of 14.

8 0

1 year ago

What is the exponential form of the logarithmic equation? 3=log0.6 0.216

tatuchka [14]

Answer:

0.216 = 0.6³

Step-by-step explanation:

using the rule of logarithms

• $log_{b}$ x = n ⇔ x = $b^{n}$