Verified Answer :

meerkat18

I believe this question can be better answered with missing values like rate of the loan from bank etc.
However, to solve with only the given.
We take annual income. $4,840 x 12 = $58,080 
To take morgage is 3 times the annual income. $58,080 x 3=$174,240 

The maximum loan she she can take out on a house is $174,240

ajinems

The maximum loan she can take out on a house is = $116,160

Calculation of maximum loan

The total monthly income of Erica = $4,840

For a year she earns up to,

$4,840 × 12 = $58,080

In a bank, you can access up to 200% of your annual salary.

Therefore, the maximum loan she can take out on a house is = $58,080 × 2

= $116,160

Learn more about loan here:

https://brainly.com/question/26011426

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