A family has a monthly mortgage payment of $760, which is 16% of their monthly income. What is the family's monthly income

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Mathematics

Alfred Larsen

20 October, 16:18

A family has a monthly mortgage payment of $760, which is 16% of their monthly income. What is the family's monthly income

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Kahlua · Answer 1

Let x be the monthly income of this family. Then 16% of x is $760, meaning that (16/100) x=760. From here we get x=76000/16=4750. So the monthly income of this family is 4750 and their annual income is 12*4750=57000.