Sydney earns $2,100 a month. To qualify for a mortgage, her monthly payments must be less than 39% of her monthly income. What could her monthly payments be in order to qualify for the mortgage?

Question

Quizplus · Accepted Answer

To qualify for the mortgage, Sydney's monthly payments must be less than 39% of her monthly income. Calculating 39% of $2,100 gives $819 (0.39 * 2100 = 819). Therefore, her monthly payments must be less than $819 to qualify.

Sydney Earns $2,100 a Month