Gross Income


The Johnsons have accumulated a nest egg of 40,000 that they intend to use as a down payment toward the purchase of a new house. Because their present gross income has placed them in a relatively high tax bracket, they have decided to invest a minimum of 2400/month in monthly payments toward the purchase of their house. However because of other financial obligations, their monthly payments should not exceed 3000. if local mortgage rates are 8%/year compounded monthly for a conventional 30-yr mortgage, what is the price range of houses that they should consider?


1. Describe what might happen if a rational expression were multiplied before being simplified

2. Using complete sentences, describe how you would check the product of two rational expressions. Create and demonstrate your own example of this concept


Test the following hypothesis with a=.05
H0: There is no first-order autocorrelation
H1: There is first-order autocorrelation.
n=50, k=2, d=1.38

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