Larry has saved $18,500 toward a down payment on a house. If he makes $3,890 a month , how much can he afford to spend on house? A. 100,000 B. 93,369 C. 111,860 D. 65,180

Question

asked Feb 24, 2017 206k views

1 Answer

Liam Wheldon · Answer 1 · 2017-03-01T13:49:54+0000

Answer: Option 'D is correct.

Explanation:

Since we have given that

Amount he saved toward a down payment on a house = $18500

Amount he makes per month = $3890

Amount he makes in a year would be

$3890* 12=\$46680$

So, Amount he can afford to spend on house is given by

$\$46,680+\$18,500\\\\=\$65,180$

Hence, Option 'D is correct.