Suppose rules of the bank are, that in order to qualify for the loan, your monthly  mortgage payment cannot exceed 30 percent of your monthly income.What should be your minimum monthly income needed to qualify for the loan? 

Mortgage task | Enterprise & Finance homework assist

With the intention to qualify for a mortgage, the minimal month-to-month revenue wanted can be equal to the specified mortgage quantity divided by 0.3 (30 %). For instance, if a person is searching for a $100,000 mortgage then their minimal month-to-month revenue would wish to equal at the least $333,333 ($100,000 / 0.3 = $333,333).

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