Question

Diane bolton found a home for suzanne and walter rogers which will require a monthly loan payment of $840. If the lender insists that they buyers monthly payment not exceed 30% of the buyer's monthly income, find the minimum monthly income required by the lender.

I did 840(.30) to get 252 but i dont know if thats right or where to go from there

Answer 1

Answer: The minimum is $2767

Step-by-step explanation: You want to divide 840 by .30 to find the minimum. The opposite of what you were trying. When you multiply you are finding 30% of 840 To find what 840 is 30% of you must divide.