36% of Income Assignment

Copy these vocabulary words:  Lets see who follows directions and copies the words.

income = the money you make from a job

occupation = a job

down payment = the first payment you pay to the bank when you borrow money

mortgage payment = the payment you pay to the bank every month when you borrow money

assets = the money that you have

debt = the money you owe to somebody

Today you are going to look at people's debt and mortgage payment.  Then you will find out if they make enough money to buy the home.

36% of income has to be greater than mortgage payment plus other debt.

Here is the example:

36% of income has to be more than mortgage payment plus other debt.

Change 36% to a decimal.  36% becomes .36
The income is $5,914
.36 times $5914 = $2129.04

The mortgage payment is $1597.  Other Debt Payment is $237.
$1597 + $237 = $1834

Is the 36% of income greater than mortgage plus other?
$2129  >  $1834
The answer is yes.

1. What is the buyers name?

2. What amount is the income?

3. What amount is 36% as a decimal?

4. What amount is 36% times the income?

5. What amount is the mortgage payment?

6. What amount is other debt payments?

7. What amount is mortgage payment + other debt payments?

8. Is 36% of income greater than mortgage payment plus other debt payments?

9. What is the buyers name?

10. What amount is the income?

11. What amount is 36% as a decimal?

12. What amount is 36% times the income?

13. What amount is the mortgage payment?

14. What amount is other debt payments?

15. What amount is mortgage payment + other debt payments?

16. Is 36% of income greater than mortgage payment plus other debt payments?

17. What is the buyers name?

18. What amount is the income?

19. What amount is 36% as a decimal?

20. What amount is 36% times the income?

21. What amount is the mortgage payment?

22. What amount is other debt payments?

23. What amount is mortgage payment + other debt payments?

24. Is 36% of income greater than mortgage payment plus other debt payments?

25. What is the buyers name?

26. What amount is the income?

27. What amount is 36% as a decimal?

28. What amount is 36% times the income?

29. What amount is the mortgage payment?

30. What amount is other debt payments?

31. What amount is mortgage payment + other debt payments?

32. Is 36% of income greater than mortgage payment plus other debt payments?

33. What is the buyers name?

34. What amount is the income?

35. What amount is 36% as a decimal?

36. What amount is 36% times the income?

37. What amount is the mortgage payment?

38. What amount is other debt payments?

39. What amount is mortgage payment + other debt payments?

40. Is 36% of income greater than mortgage payment plus other debt payments?