Jenny and Paul Hardin are relocating to Austin, TX. Jenny's new job will offer her $23,000...
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
Jenny and Paul Hardin are relocating to Austin, TX. Jenny's new job will offer her $23,000 a year, while Paul's new income will be $31,500. Both of their employment packages promised annual increases. Jenny will get 4.25% and Paul gets 5.75% increases every year. After some research, The Hardins decided that they should live in Green Valley, a suburb of Austin so that their son Evan can attend the best school in the area. According to the Federal National Mortgage Association (FNMA), the qualifying income for the median priced house in the Green Valley area would be $55,100. 15. (5 pts) What would be the Housing Affordability Index (HAI)? I 16. (6 pts) What does this index mean for the Harding? Can they buy a house in Green Valley? And if not, how would make them able to? Given that the inflation rate is expected to be 3.5%. Assume that only income will be affected by inflation, and the median price of $55,100 will stay the same. Jenny and Paul Hardin are relocating to Austin, TX. Jenny's new job will offer her $23,000 a year, while Paul's new income will be $31,500. Both of their employment packages promised annual increases. Jenny will get 4.25% and Paul gets 5.75% increases every year. After some research, The Hardins decided that they should live in Green Valley, a suburb of Austin so that their son Evan can attend the best school in the area. According to the Federal National Mortgage Association (FNMA), the qualifying income for the median priced house in the Green Valley area would be $55,100. 15. (5 pts) What would be the Housing Affordability Index (HAI)? I 16. (6 pts) What does this index mean for the Harding? Can they buy a house in Green Valley? And if not, how would make them able to? Given that the inflation rate is expected to be 3.5%. Assume that only income will be affected by inflation, and the median price of $55,100 will stay the same.
Expert Answer:
Posted Date:
Students also viewed these finance questions
-
Given the following marginal utility schedule for good X and good Y for an individual A, given that the price of X and the price of Y are both $10, and that the individual spends all his income of...
-
1. What kind of a legal claim are these parents making? 2. What is the legal standard for the negligence claim? 3. How does the reasonable person standard apply to a claim of negligent design? 4. How...
-
Suppose that M is a nonsingular matrix. (a) Prove that the implicit iterative scheme M u(n+l) = u(n) is asymptotically stable if and only if all the eigenvalues of M are strictly greater than one in...
-
You have asked your sales manager to explain why budgeted revenues for your division are below expectations. The budget indicated \(\$ 472,500\) of revenues based on a sales volume of 675,000 units....
-
For the year ending March 31, 20Y5, Omega Systems Inc. reported net income of $105,450 and paid dividends of $7,500. Comparative balance sheets as of March 31, 20Y5 and 20Y4, are as follows:...
-
7. ABC plc makes batches of 'own brand' ready meals for supermarkets, using a semi- automated production process. The cost for batch number 87102, comprising 10,000 Thai fish curry meals, were as...
-
(System is the spring-block) A 0.80 kg block is permanently attached to a spring (k =1500 N/m) on a rough horizontal surface. The spring-block is initially stretched out to 15.0 cm from its...
-
The gas phase conversion of A to B, AB is thought to proceed in one of two ways. The first being unimolecular and gives a first order reaction. The second, being bimolecular giving a second order...
-
write/develop and show the content of a database called Vacinnations.db available at covid-19 vaccination database available at...
-
The flash on a camera is provided by a capacitor discharging through a flashlamp. Suppose in your camera the capacitor is charged by a 9.00 V battery, and the discharge takes 6.10 s. If the average...
-
ROME builds upon the BEAR and asks students to assess the import and export prospects for MES-Sim regarding the target market. The critical issue here is whether MES-Sim can effectively conduct...
-
How can the structural family theory help in family conflict resolution ?
-
Evans Company reported net income of $1,050 million in 2016. The weighted average number of common shares outstanding during 2016 was 480 million shares. Evans paid $50 million in dividends on...
-
A supermarket chain is interested in exploring the relationship between the sales of its store-brand canned vegetables (y), the amount spent on promotion of the vegetables in local newspapers (x1)...
-
We are measuring the diffusivity of water in air at \(42^{\circ} \mathrm{C}\). A tube is placed with one end in the water and the other end in a stream of dry air. The air column in the tube is...
-
Repeat Example 15-10 but with a mass transfer coefficient that is 10 times larger (use \(\delta=0.001 \mathrm{~m})\). Report \(\mathrm{x}_{\mathrm{NH} 3}, \mathrm{y}_{\mathrm{NH} 3, \text { surface...
-
A particle of pure \(\mathrm{NaCl}\) is dissolving in an aqueous liquid solution at \(18^{\circ} \mathrm{C}\). The dissolution of the particle is controlled by mass transfer. The system is vigorously...
Study smarter with the SolutionInn App