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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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Hey there!

In order to answer this question, it's easiest to start with one of the money amounts and work your way to the other ones. Keep in mind that, no matter what, the amount of collective money won't exceed 1.50, meaning you can't have two 1 dollar bills, etc. When I wrote it out, I did it in this order:

1 = 1 dollar
0.5 = Half dollar
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1 + 0.5 = 1.50
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Since no other combinations add up to 1.50, your answer is 6. 

Hope this helped you out! :-)
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