Question

How much annual income would you need to have if, using the 28/36 ratio, your maximum allowable recurring debt is $500

Answer 1

75000

Step-by-step explanation:

28/36 = .777777777778, which rounds up to 8. 8% is equal to .08.

now divide
`(.08x)/(.08) = (500)/(.08) \\`, your answer for this would be 6250$ for a monthly income.

multiply by 12 to make the answer annual income, and your answer would be 75000

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if you could care less. the answer on edge 2020 is D

hope this helps :)

Answer 2

75,000

Step-by-step explanation: