Mathematics
AlexVarezG
21

Given that your monthly expenses for the house that you want to purchase totals $1,562.30 (this includes the house payment, annual taxes, and the annual cost for home owners insurance) and your gross annual salary is $66,955.71, determine if you qualify for the purchase of the new home. If yes, what percent do you qualify by?

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(1) Answers
Cibula685

Hi there Given that your annual salary is $66,955.71 So we need to find the monthly salary by dividing the annual salary by 12 months Your monthly salary is 66,955.71÷12=5,579.64 Your monthly salary can cover the monthly expenses so you are qualify for the purchase of the new home percent do you qualify by 1,562.3÷5,579.64=0.28×100=28% Hope it helps

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