Task 4


Lily makes a net annual income of


$52,500 and has saved enough


money for a 20% down payment on


a $230,000 house. She estimates her


mortgage will be $1,200 per month.


Can she afford this mortgage?


Эври


>


gifts &


Nοε δυσπου


entertainment


12%


clothes 5% Sponding Guidelines


% of not incomes)


savings


10%


1: What is Lily's net monthly income


2: How much is her down payment


3: Not considering the down payment, is a


$1,200 monthly mortgage payment within


the Spending Guideline for housing?


transportation


11%


food 20%


1: What is Lily's net monthly income?