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
How to perform well on ISSB - Group Discussion
PAF - Careers - join Pakistan Air Force as GD Pilot
Khyber Girls Medical College is popular in students of KPK
List of major colleges in Rawalpind ...
A comprehensive list of colleges in ...
How you can get an opportunity to h ...
Learn how to write Effective cover ...
Learn how to deal with Picture Patt ...
Prepare GRE General paper-base and ...
An oldest university - the Universi ...
List of universities in the field o ...