Question

The​ Adeeva's gross monthly income is ​$5600. They have 18 remaining payments of $ 360 on a new car. They are applying for a 15​-year, ​$142 comma 000 mortgage at 7.5​%. The taxes and insurance on the house are ​$270 per month. The bank will only approve a loan that has a total monthly mortgage payment of​ principal, interest, property​ taxes, and​ homeowners' insurance that is less than or equal to​ 28% of their adjusted monthly income. What is 28% of Adevas income

Answer 1

Answer:

$1,467.20

Step-by-step explanation:

Adjusted monthly income is the gross income minus any payments made every month. 5600 - 360 = 5240. To get 28% of her adjusted income multiply 5240 X.28 =1467.20