Find all School-related info fast with the new School-Specific MBA Forum

 It is currently 07 Oct 2015, 13:07

### GMAT Club Daily Prep

#### Thank you for using the timer - this advanced tool can estimate your performance and suggest more practice questions. We have subscribed you to Daily Prep Questions via email.

Customized
for You

we will pick new questions that match your level based on your Timer History

Track

every week, we’ll send you an estimated GMAT score based on your performance

Practice
Pays

we will pick new questions that match your level based on your Timer History

# Events & Promotions

###### Events & Promotions in June
Open Detailed Calendar

# in millington, a city of 50,000 people, mercedes pedrosa, a

Author Message
TAGS:
Manager
Joined: 09 Jun 2003
Posts: 188
Location: work chair
Followers: 2

Kudos [?]: 13 [0], given: 0

in millington, a city of 50,000 people, mercedes pedrosa, a [#permalink]  25 Feb 2004, 04:46
00:00

Difficulty:

(N/A)

Question Stats:

0% (00:00) correct 0% (00:00) wrong based on 0 sessions
4. in millington, a city of 50,000 people, mercedes pedrosa, a realtor, calculated that a family with millingtonтАЩs median family income, $28,000 a year, could afford to buy millingtonтАЩs median-priced$77,000 house. this calculation was based on an 11.2 percent mortgage interest rate and on the realtorтАЩs assumption that a family could only afford to pay up to 25 percent of its income for housing.

which of the following corrections of a figure appearing in the passage above, if it were the only correction that needed to be made, would yield a new calculation showing that even incomes below the median family income would enable families in millington to afford millingtonтАЩs median-priced house?

(a) millingtonтАЩs total population was 45,000 people.
(b) millingtonтАЩs median annual family income was $27,000 (c) millingtonтАЩs median-priced house cost$80,000
(d) the rate at which people in millington had to pay mortgage interest was only 10 percent.
(e) families in millington could only afford to pay up to 22 percent of their annual income for housing.
SVP
Joined: 30 Oct 2003
Posts: 1794
Location: NewJersey USA
Followers: 5

Kudos [?]: 49 [0], given: 0

This Q is posted two times I guess.

D looks fine.
Manager
Joined: 09 Jun 2003
Posts: 188
Location: work chair
Followers: 2

Kudos [?]: 13 [0], given: 0

anandnk wrote:
This Q is posted two times I guess.

D looks fine.

really sorry for my negligence. i put it two times, really.
Similar topics Replies Last post
Similar
Topics:
1 Millington Family Housing Problem 3 30 Dec 2013, 08:31
1 In Millington, a city of 50,000 people, Mercedes Pedrosa, a 9 13 Feb 2008, 05:11
Funding opponent: Some people favor city funding for the 6 03 Jun 2007, 15:41
In Millington, a city of 50,000 people, Mercedes Pedrosa, a 5 18 Nov 2006, 04:47
In Millington, a city of 50,000 people, Mercedes Pedrosa, a 12 18 Oct 2005, 19:29
Display posts from previous: Sort by