In Millington, a city of 50,000 people, Mercedes Pedrosa, a realtor, calculated that a fimily 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 of an 11.2 percent mortgage interest rate and on the realtor’s assumption that a family culd only afford to pay up a 25% of its income for housing.
Which of the following correctins of a fugure appearing in the passage above, fir it were the only correction that needed to be made, would yield a new calculation showing that even below the median family income would enable families in Millington to afford Millington’s median- priced house?
A. Millington’s total population was 45,000 people
B. Millington’s median annual family income was $27,000
C. Millington’s median-priced house cost $80,000
D. The rate at which piople in Millington had to pay mortgage interest was only 10%
E. Families in Millington could only afford to pay up to 22% of their annual income for housing
[spoiler]got to the ans but rn't really happy[/spoiler]
source unsure
Which of the following correctins of a fugure appearing in the passage above, fir it were the only correction that needed to be made, would yield a new calculation showing that even below the median family income would enable families in Millington to afford Millington’s median- priced house?
A. Millington’s total population was 45,000 people
B. Millington’s median annual family income was $27,000
C. Millington’s median-priced house cost $80,000
D. The rate at which piople in Millington had to pay mortgage interest was only 10%
E. Families in Millington could only afford to pay up to 22% of their annual income for housing
[spoiler]got to the ans but rn't really happy[/spoiler]
source unsure
