Help me please.....
3.you have a mortgage payment of $1,248.90/month. Using proportions, what is the minimum amount you must have in realized income per month to keep your housing expense in the acceptable range?,
Assuming you are using the rule that housing shouldn't exceed 30% of income and that the mortgage payment includes taxes and insurance costs you want to take the following steps to determine the answer.
1248.90/x = 30/100
124,890/x = 30
124,890 = 30x
4,163 = x
$4,163/mo is the minimum amount you want in income per month to keep your housing expense in the acceptable range.
