Ask Question
26 June, 15:42

Suppose a family has a gross annual income of $36,000, What is the maximum amount the family should spend each month on a mortgage payment?

+4
Answers (1)
  1. 26 June, 18:46
    0
    Step-by-step explanation:

    Ok, if they make $36,000 every year, that means the maximum they can spend is $36,000.

    If the mortgage is a monthly payment, and there are 12 months in a year, that means we will split the $36,000 over 12 different payments. To do that we will divide the 36,000 by 12

    36,000 / 12 = $3,000

    That means the most they can spend on mortgage is $3,000 per month.
Know the Answer?
Not Sure About the Answer?
Find an answer to your question ✅ “Suppose a family has a gross annual income of $36,000, What is the maximum amount the family should spend each month on a mortgage payment? ...” in 📘 Mathematics if you're in doubt about the correctness of the answers or there's no answer, then try to use the smart search and find answers to the similar questions.
Search for Other Answers