A family has annual loan payments equaling 58.6% of their annual income. During the year, their loan payments total $13,077.75 What is their income?

Expert Answers

An illustration of the letter 'A' in a speech bubbles

Elizabeth -- you are good with the .586x = 13077.75 so the annual income should be $22316.98.  Keep up the good work! 

Posted on

Soaring plane image

We’ll help your grades soar

Start your 48-hour free trial and unlock all the summaries, Q&A, and analyses you need to get better grades now.

  • 30,000+ book summaries
  • 20% study tools discount
  • Ad-free content
  • PDF downloads
  • 300,000+ answers
  • 5-star customer support
Start your 48-Hour Free Trial