Question

A borrower who is paid $750 per week has a qualifying monthly income of

Answer 1

$3,250

Step-by-step explanation:

There are 52 weeks in a year so we can multiply 750 by 52

750•52=39000

Now since there are 12 months in a year we divide by 12 to find the monthly income

39000÷12=3250

Hope this helps

Answer 2

The qualifying monthly income of a borrower who is paid $750 per week is calculated by multiplying $750 by 52 weeks and then dividing by 12 months, resulting in a monthly income of $3,250.

Step-by-step explanation:

Calculating the qualifying monthly income of a borrower involves converting their weekly earnings into a monthly figure. If a borrower is paid $750 per week, to calculate their monthly income, we multiply this amount by the number of weeks in a year (52) and then divide by the number of months in a year (12). This gives us a monthly income of $750 * 52 / 12, which equals $3,250.

To calculate the borrower's qualifying monthly income, we need to first determine the total income per month. Since the borrower is paid $750 per week, we can multiply this amount by 4 to get the total income per month$750/week x 4 weeks/month = $3000/monthTherefore, the borrower's qualifying monthly income is $3000.