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ad.blackboard.com/webapps/assessment/take/launch.jsp?course assessment id- 495830_1&course; id- X Access not allowed-Kathleen Tools Help n.·«F https--ecf.flmbcircl 1 (3) Se https-ecf.flmb.circ11 (2) as https-ecfflmb.circ11 «F Middle estion 11 Reagan wants to buy a condominium for $90,000. The property taxes are $1,200 per year, homeowners in payments would be $434.83. Reagan's gross monthly income is $3335. She has monthly car loan paymer $200. She has no other loan payments. The bank is requiring a 10% down payment. Her bank will appro insurance payment, and property taxes are less than 25% of her adjusted monthly income. 11. Determine 25% of Reagan's adjusted monthly income. Assume adjusted monthly income is gross in payments O a.$115.40 O b. $679.58 $721.25 O d. $2885

Explanation / Answer

Gross monthly income of Regean = $3335

Monthly car loan payment =$250

Monthly student loan payment = $200

Regean's monthly payment = $3335-$250-$200 = $2885.

25% of $2885= (25/100) * $2885 = $ 721.25.

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