Question

cristal's gross semimonthly salary is $2968.50. What is the maximum amount she can afford to borrow for a home mortgage?
A) $71,244
B)$124,336
C)$142,488
D)$154,362

Answer 1

Answer:

C) 142,488

Step-by-step explanation: by adding up here semimonthly, also took test.

Answer 2

The maximum amount she can afford to borrow for a home mortgage is: C)$142,488.

Home mortgage

An employees who receive semimonthly salary will  get 24  (12months×2) paychecks per year as the salary is paid twice per year.

Using this formula

Maximum amount= Gross semimonthly salary×24 paychecks×2

Let plug in the formula

Maximum amount=($2968.50×24)×2

Maximum amount=$71,244×2

Maximum amount=$142,488

Inconclusion the maximum amount she can afford to borrow for a home mortgage is: C)$142,488.

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