David Saks: September 2008

David Saks - Real Estate Broker - The Real Estate Mart of Tennessee, Inc. - 4040 North Watkins-Suite #4 - Memphis, Tennessee 38127 - Phone (901) 357-4663

Real Estate Math Class : Lesson 43

                                                        math

We've heard it said that the "rule of thumb" in financing a home is that a person should be able to buy a home costing 2 and one-half times his annual income.

What would be the minimum weekly salary of a buyer to purchase a $235,500 home using this "rule of thumb" ? 

The answers, along with the corresponding solution, will be posted below the photographs at the bottom of the page, so spend a little time on it before you make your way to the bottom. It helps to keep your math skills sharp. Hope you have a fine week ahead.

wildlife

A. $1811.54

$235,500 divided by 2.5 equals $94,200 yearly income.

$94,200 divided by 52 equals $1811.538 or rounded $1811.54 a week.




David Saks



Time&Temp Memphis

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Comment balloon 0 commentsDavid Saks • September 28 2008 12:48AM
Real Estate Math Class : Lesson 43
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