Question

You earn $2,800 per month. Your wife earns $3,100 per month. You are willing to spend 33% of your combined monthly income on the purchase of a house. What can you afford to spend in total per month?

Answer 1

b)$1,947

Step-by-step explanation:

Thats the answer the other person wrong.

Answer 2

$3,953

Step-by-step explanation:

Total Income (Combined) = $2,800 + $3,100

= $5,900

If 33% of the total income is to be spent on the purchase of a house, then affordable amount that can be spent is 67% (100% - 33%) of the combined income.

Amount that can be spent per month

= 67% × $5900

= $3,953