Given that your monthly expenses for the house that you want to purchase totals $1,562.30 (this includes the house payment, annual taxes, and the annual cost for home owners insurance) and your gross annual salary is $66,955.71, determine if you qualify for the purchase of the new home. if yes, what percent do you qualify by? a. no; 29.2% c. no; 30% b. yes: 28% d. yes; 26.4%

The answer is option B : Yes: 28%

Step-by-step explanation:

The monthly expenses for the house that you want to purchase totals $1,562.30. So, yearly expenses for the house =

The gross annual salary is $66,955.71

Now percentage of expense to gross income is =

= 28.00%

Therefore, the answer is Yes: 28%

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step-by-step explanation: