Question: In Millington, a city of 50,000 people, Mercedes Pedrosa, a realtor, calculated that a family with Millington's median family income, $28,000 a year, could afford to buy Millington's median-priced $77,000 house. This calculation was based on an 11.2 percent mortgage interest rate and on the realtor's assumption that a family could only afford to pay up to 25 percent of its income for housing. Which of the following corrections of a figure appearing in the passage above, if it were the only correction that needed to be made, would yield a new calculation showing that even incomes below the median family income would enable families in Millington to afford Millington's median-priced house?
Correct Answer: D
Explanation under process. It will be available soon.
All questions (MCQ) are arranged in sets of questions on pages. You will see 12 questions pre page.
Questions in Sets
Learn about ISSB Direction Sens Questions to deal with
GMAT is the most popular test for admissions in management studies
IMSP Institute of Management Sciences Peshawar is popular in KPK
A famous name incolleges in Lahore ...
A list of major colleges in Peshawa ...
How to get opportunity to study in ...
A list of Articles on Social Issues ...
Lessons with practice question on m ...
How to prepare for SAT Reasoning pa ...
About scope in Engineering and list ...
A comprehensive list of universitie ...