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Larry has saved $18,500 toward a down payment on a house. If he makes $3,890 a month , how much can he afford to spend on house?

A100,000
B93,369
C111,860
D65,180

Verified Answer :

Answer:  Option 'D is correct.

Step-by-step explanation:

Since we have given that

Amount he saved toward a down payment on a house = $18500

Amount he makes per month = $3890

Amount he makes in a year would be

\(3890\times 12=\$46680\)

So, Amount he can afford to spend on house is given by

\(\$46,680+\$18,500\\\\=\$65,180\)

Hence, Option 'D is correct.

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