Question

Your parents are buying a house for $1857,500. They have a good credit rating, making a 20% down payment ,and except to pay $1,575/month. The interest rate for the mortage is 4.65%. What must their realized income be before each month.

Answer 1

first you need to change percentage in to decimal

Answer 2

Just divide 1575/30 and that should give you the answer.