Asked by Carol Green on Jul 31, 2024
Verified
The Jacksons sublet their summer cottage during the winter and spring months.For each month they receive 72% of their monthly mortgage of $1,750.The Jacksons earn $1,260 for the six-month period.
Monthly Mortgage
The scheduled monthly payment towards the principal and interest of a mortgage loan.
Sublet
The act of leasing an apartment or house from a tenant rather than directly from the landlord or property owner.
Mortgage
A loan taken out by people to purchase a house.
- Understand basic financial arithmetic involving percentages and calculating proportions.
Verified Answer
ZK
Zybrea KnightAug 07, 2024
Final Answer :
False
Explanation :
The Jacksons earn $1,260 each month, not for the six-month period, because 72% of $1,750 is $1,260 (0.72 * 1750 = 1260).
Learning Objectives
- Understand basic financial arithmetic involving percentages and calculating proportions.