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Mike and Cheryl had an adjusted gross income of a dollars. Mike just got a $3,000 raise and Cheryl got a $1,500 raise. They are considering moving to a new house with monthly mortgage payments of m dollars, annual property taxes of p dollars, and annual homeowner's premiums of h dollars. Express their front-end ratio algebraically.

Respuesta :

To express the front-end ratio algebraically for Mike and Cheryl considering their adjusted gross income, raises, and housing expenses, we can follow these steps:

1. Calculate the new adjusted gross income for Mike and Cheryl after their raises:

- Mike's new adjusted gross income = a + $3,000

- Cheryl's new adjusted gross income = a + $1,500

2. Determine the total annual housing expenses:

- Total annual housing expenses = 12m (monthly mortgage payments) + p (annual property taxes) + h (annual homeowner's premiums)

3. Calculate the front-end ratio:

- Front-end ratio = Total annual housing expenses / Total combined income

- Total combined income = Mike's new adjusted gross income + Cheryl's new adjusted gross income

- Front-end ratio = Total annual housing expenses / (a + $3,000 + a + $1,500)

By following these steps, you can algebraically express the front-end ratio for Mike and Cheryl based on their adjusted gross income, raises, and housing expenses.