document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=1176401>Question 1176401</A>: <I><SPAN STYLE=\"word-break: break-all;\"> Advice from most financial advisers states to spend no more than​ 28% of​ one's gross monthly income for one's mortgage​ payment, and to spend no more than​ 36% of​ one's gross monthly income for​ one's total monthly debt. Suppose a family has a gross annual income of $45,600. \r<BR>\n" );
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document.write( "a. What is the maximum amount the family should spend each month on a mortgage​ payment?\r<BR>\n" );
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document.write( "b. What is the maximum amount the family should spend each month for total credit​ obligations?\r<BR>\n" );
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document.write( "c. If the​ family's monthly mortgage payment is 70​% of the maximum they can​ afford, what is the maximum amount they should spend each month for all other​ debt? </SPAN>\n" );
document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #803214 by </B><A HREF=/tutors/aboutme.mpl?userid=MathLover1><B>MathLover1(20849)</B></A><img src=\"/images/stars/stars-13.gif\" alt=\"\" >&nbsp;<A HREF=/tutors/aboutme.mpl?userid=MathLover1><IMG SRC=http://www.algebra.com/images/aboutme-small.gif BORDER=0 alt=\"About Me\" VALIGN=MIDDLE></A>&nbsp;<IMG SRC=http://www.algebra.com/cgi-bin/show-face.mpl?user=MathLover1><BR>You can <A HREF=\"/cgi-bin/embed-solution.mpl?show=1&solution=803214\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> \r<BR>\n" );
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document.write( "a. What is the maximum amount the family should spend each month on a mortgage​ payment?\r<BR>\n" );
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document.write( "<IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=28 ALIGN=MIDDLE  ALT=\"28\"   DISABLED_style= \"max-width:90%; height:auto;\" >% of one's gross monthly income \r<BR>\n" );
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document.write( "if a family has a gross annual income of $<IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=45600 ALIGN=MIDDLE  ALT=\"45600\"   DISABLED_style= \"max-width:90%; height:auto;\" >,  gross monthly income is \r<BR>\n" );
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document.write( "$<IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=45600%2F12=3800 ALIGN=MIDDLE  ALT=\"45600%2F12=3800\"   DISABLED_style= \"max-width:90%; height:auto;\" >\r<BR>\n" );
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document.write( "then <IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=28 ALIGN=MIDDLE  ALT=\"28\"   DISABLED_style= \"max-width:90%; height:auto;\" >}% of one's gross monthly income  is \r<BR>\n" );
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document.write( "<IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=3800%2828%2F100%29=3800%2A0.28=1064 ALIGN=MIDDLE  ALT=\"3800%2828%2F100%29=3800%2A0.28=1064\"   DISABLED_style= \"max-width:90%; height:auto;\" >\r<BR>\n" );
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document.write( "b. What is the maximum amount the family should spend each month for total credit​ obligations?\r<BR>\n" );
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document.write( "should be max <IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=36 ALIGN=MIDDLE  ALT=\"36\"   DISABLED_style= \"max-width:90%; height:auto;\" >% of​ one's gross monthly income which is\r<BR>\n" );
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document.write( "<IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=3800%2836%2F100%29=3800%2A0.36=1368 ALIGN=MIDDLE  ALT=\"3800%2836%2F100%29=3800%2A0.36=1368\"   DISABLED_style= \"max-width:90%; height:auto;\" >\r<BR>\n" );
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document.write( "c. If the​ family's monthly mortgage payment is <IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=70 ALIGN=MIDDLE  ALT=\"70\"   DISABLED_style= \"max-width:90%; height:auto;\" >​% of the maximum they can​ afford, what is the maximum amount they should spend each month for all other​ debt?\r<BR>\n" );
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document.write( "monthly mortgage payment =<IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=1064 ALIGN=MIDDLE  ALT=\"1064\"   DISABLED_style= \"max-width:90%; height:auto;\" >is <IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=70 ALIGN=MIDDLE  ALT=\"70\"   DISABLED_style= \"max-width:90%; height:auto;\" >​% then   the maximum amount they should spend each month for all other​ debt is \r<BR>\n" );
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document.write( "<IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=1064+%28+70%2F100%29+=+744.80 ALIGN=MIDDLE  ALT=\"1064+%28+70%2F100%29+=+744.80\"   DISABLED_style= \"max-width:90%; height:auto;\" ><BR>\n" );
document.write( "deduct from total credit​ obligations <IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=1368 ALIGN=MIDDLE  ALT=\"1368\"   DISABLED_style= \"max-width:90%; height:auto;\" ><BR>\n" );
document.write( "<IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=1368+-+744.8+=+623.20 ALIGN=MIDDLE  ALT=\"1368+-+744.8+=+623.20\"   DISABLED_style= \"max-width:90%; height:auto;\" > maximum amount they could spend each month for all other debts\r<BR>\n" );
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