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To work backwards to find realized income needed from a given mortgage payment amount, you use ___
a) proportions
b) subtraction of decimals
c) addition of decimals
d) multiplication by 72
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GPT-5 mini
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a) proportions
You set up a ratio (payment ÷ percent of income devoted to mortgage = realized income). Example: if monthly payment = $1,200 and that is 30% of monthly income, income = 1,200 ÷ 0.30 = $4,000/month (or $48,000/year).
You set up a ratio (payment ÷ percent of income devoted to mortgage = realized income). Example: if monthly payment = $1,200 and that is 30% of monthly income, income = 1,200 ÷ 0.30 = $4,000/month (or $48,000/year).
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