Ask Question
5 June, 17:58

Erica makes $4,840 monthly. What is the maximum loan she can take out on a house? $58,080

$116,160

$100,000

$87,120

+4
Answers (1)
  1. 5 June, 18:03
    0
    I believe this question can be better answered with missing values like rate of the loan from bank etc.

    However, to solve with only the given.

    We take annual income. $4,840 x 12 = $58,080

    To take morgage is 3 times the annual income. $ 58,080 x 3=$174,240

    The maximum loan she she can take out on a house is $174,240
Know the Answer?
Not Sure About the Answer?
Find an answer to your question 👍 “Erica makes $4,840 monthly. What is the maximum loan she can take out on a house? $58,080 $116,160 $100,000 $87,120 ...” in 📗 Mathematics if the answers seem to be not correct or there’s no answer. Try a smart search to find answers to similar questions.
Search for Other Answers