Barb and Bob Want to Purchase a New Home but Don't

question 97

Multiple Choice

Barb and Bob want to purchase a new home but don't know how much mortgage they can qualify for.The lender requires total installment loan payments not exceed 35% of gross monthly income.Based on Barb and Bob's financial data below,what is the maximum monthly mortgage payment for which they can qualify?

• A) $1,400
• B) $1,208
• C) $1,050
• D) $ 850
• E) $ 500

---

Definitions:

Money

A medium of exchange in the form of coins and banknotes; used to facilitate transactions for goods and services.

Lookup Field

A field in a database that matches data from one table to relevant information in another, facilitating data retrieval and relationships within the database.

Lookup Tab

Often refers to a feature in spreadsheet or database software that allows users to search for and reference information from a different table or sheet.

Table Design View

A feature in database software that allows users to define and modify a table's structure, including its fields and data types.