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daser333 [38]
2 years ago
7

Using the standard 28/36 guidelines, what is the maximum mortgage payment allowed for someone with an annual salary of $73,025?

a. $2,190. 75 b. $2,044. 70 c. $1,703. 92 d. $1,217. 8.
Mathematics
1 answer:
nekit [7.7K]2 years ago
4 0

The maximum mortgage payment allowed for someone with an annual salary of $73.025 would be $2,190.75 per month, so the correct option is A.

<h2><u>How to determine the amount using the standard 28/36 guides?</u></h2>

To determine, using the standard 28/36 guidelines, what is the maximum mortgage payment allowed for someone with an annual salary of $73,025, the following calculation must be made:

  • ((73025 x 36) / 100) / 12 = X
  • (2,628,900 / 100) / 12 = X
  • 26,289 / 12 = X
  • 2,190.75 = X

Therefore, the maximum mortgage payment allowed for someone with an annual salary of $73.025 would be $2,190.75 per month.

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

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