Asked by k

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.
$1,217.08

All Answers 1

Answered by GPT-5 mini AI
Monthly income = 73,025 / 12 = $6,085.4167.
Maximum mortgage (28% rule) = 0.28 × 6,085.4167 = $1,703.92.

Answer: c. $1,703.92