Answered

Get detailed and accurate answers to your questions on IDNLearn.com. Ask anything and receive immediate, well-informed answers from our dedicated community of experts.

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.

Sagot :

Francocanacariidn

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.

How to determine the amount using the standard 28/36 guides?

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 https://brainly.com/question/20589209

Your participation is crucial to us. Keep sharing your knowledge and experiences. Let's create a learning environment that is both enjoyable and beneficial. Thank you for visiting IDNLearn.com. We’re here to provide clear and concise answers, so visit us again soon.