Suppose two mortgage companies compare the ratio of the monthly mortgage payment to the total monthly income as their metric. Suppose 0.3 is the ideal metric for the debt-to-income ratio for Company A, and 0.28 is the ideal metric for the debt-to-income ratio for Company B. Provided the target mortgage payment is the same for either company, then which of these mortgage companies requires a greater monthly income? Explain.
Answers
Company A requires a greater monthly income since its ideal debt-to-income ratio (0.3) results in a higher portion of income allocated to the mortgage payment compared to Company B's ideal ratio of 0.28.
Company A's ideal metric for the debt-to-income ratio is 0.3, which means the monthly mortgage payment should be 30% of the total monthly income. Similarly, Company B's ideal metric is 0.28, which means the monthly mortgage payment should be 28% of the total monthly income.
Since the target mortgage payment is the same for both companies, the company with the smaller ideal metric (0.28 for Company B) requires a greater monthly income to meet that target. This is because a smaller ratio (0.28) of the mortgage payment to the total income implies that the mortgage payment is a larger portion of the income, requiring a higher income to maintain the same payment amount.
In other words, Company B's requirement of keeping the debt-to-income ratio lower means that the mortgage payment should be a smaller fraction of the total monthly income. As a result, to keep the mortgage payment constant, a higher income is needed to achieve the smaller debt-to-income ratio of 0.28 compared to Company A's debt-to-income ratio of 0.3.
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Answer:
the 0.28 company
Step-by-step explanation:
0.28 is smaller than 0.3 and 0.28 still costs the same amount of money as 0.3
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Step-by-step explanation:
Let
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Answer:
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Answer:
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Step-by-step explanation:
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{−7.8, 0, 3, 9}
{−4.5, −3, 0.9, 4, 17}
{−4.5, −3}
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t or f
Answers
The marks that have to be scored in 6th test to make the average 85 is 105 .
What is Average ?
Average of a data set is the ratio of sum of all the data to the number of data in the set.
It is given that the average score = 81
Total tests up till now = 5
Total tests overall = 6
New Average = 85
Let the sum of the score for 5 tests is x
Then by the formula of average
x / 5 = 81
x = 405
Now let the marks scored in the 6th test is y
then ( 405 +y) / 6 = 85
405 + y = 510
y = 105
Therefore , the marks that have to be scored in 6th test to make the average 85 is 105 .
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false... even if you got 100 on the next test, you would only have an 84 average
Hope this helped!!! :) (comment if you don't understand)
Answers
Answer:
56%
Step-by-step explanation:
14/25=0.56=56%
Answer:
The answer is 56
Step-by-step explanation:
Percentage Calculator: 14 is what percent of 25? = 56.