Question

The Walters bought a house and calculated they would pay 28% of their combined income of $5436.68 toward their monthly mortgage payment on the house. How much will the Walters pay for their monthly mortgage payment?

Answer 1

We have been given that the Walters bought a house and calculated they would pay 28% of their combined income of $5436.68 toward their monthly mortgage payment on the house.

To find the amount of monthly mortgage payment, we will find 28% of combined income.

`\text{Amount of monthly mortgage payment}=\$5436.68* (28)/(100)`

`\text{Amount of monthly mortgage payment}=\$5436.68* 0.28`

`\text{Amount of monthly mortgage payment}=\$1522.2704`

`\text{Amount of monthly mortgage payment}\approx \$1522.27`

Therefore, the Walters will pay approximately
`\$1522.27` for their monthly mortgage payment.