Respuesta :
No; 35% of net pay is $1,050 which is less than her monthly expenses of $1,175.84
950+24.35+85.75+64.74+32.90+18.10
=1,175.84
3,000×0.35
=1,050
950+24.35+85.75+64.74+32.90+18.10
=1,175.84
3,000×0.35
=1,050
Answer:
The answer is NO. Gerri's monthly expenses are not within FHA guidelines of 35% of net pay.
Step-by-step explanation:
Given net pay of Gerri = $3000
Her sub categories for monthly housing expenses are - $950.00 for her mortgage payment, $24.35 for her insurance premium, $85.75 for real estate taxes, $64.74 for electricity, $32.90 for telephone service, and $18.10 for water.
Totaling these values we get, [tex]950+24.35+85.75+64.74+32.90+18.10[/tex] = $1175.84
So, the answer is No, her monthly expenses are not within FHA guidelines of 35% of net pay.
35% of net pay is [tex]0.35\times3000=1050[/tex] and this is less than $1175.84.