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2 years ago

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

Mathematics

1 answer:

Nitella [24]2 years ago

4 0

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

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

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