Question

alexis earns $31,350 per year. according to the bankers rule, how much money can she afford to borrow for a house?

Answer 1

The amount of money that she can afford to borrow for a house is; $78,375

What is the bankers rule?

To use the banker’s rule to determine the amount of money a person may borrow, you may borrow up to 2.5 times your annual income. Thus, by bankers rule, we can say that;

Amount you can borrow = Annual income * 2.5

Thus, since she has an annual income of #31350, it means that;

Amount she can borrow for a house = 2.5 * 31350 = $78,375

Read more about Bankers Rule at; https://brainly.com/question/9390086

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