contestada

How much annual income would you need to have if, using the 28/36 ratio, your maximum allowable recurring debt is $500

Respuesta :

Answer:

75,000

Explanation:

JusticeDerksen

Answer:

75000

Explanation:

28/36 = .777777777778, which rounds up to 8. 8% is equal to .08.

now divide [tex]\frac{.08x}{.08} = \frac{500}{.08} \\[/tex], your answer for this would be 6250$ for a monthly income.

multiply by 12 to make the answer annual income, and your answer would be 75000

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if you could care less. the answer on edge 2020 is D

hope this helps :)