Question

PLEASE HELP ASAP
A realtor found a home for a couple that will require a monthly loan payment of $1460. If the lender insists that the buyer's monthly payment not exceed 28% of the buyer's monthly income
find the minimum monthly income required by the londer. Simplify your answer.

Answer 1

Answer:

$5214.29 or $5214

Step-by-step explanation:

Set up a ratio table:

$\frac{1460}{x}$=$\frac{28}{100}$

You need you multiply the monthly loan by 100, then divide by 28.

(1460 · 100) ÷ 28

146000 ÷ 28

5214.28571

Round to the nearest cent:

$5214.29

Unless by simplify it means to the nearest dollar:

$5214