what does that answer of $144,000 mean for juan and gloria? is it:\na) an estimate of the highest price they…

what does that answer of $144,000 mean for juan and gloria? is it:\na) an estimate of the highest price they can afford to pay for a home\nb) the exact amount of money they should save before buying a home\nc) what their total annual income should be before buying a home

what does that answer of $144,000 mean for juan and gloria? is it:\na) an estimate of the highest price they can afford to pay for a home\nb) the exact amount of money they should save before buying a home\nc) what their total annual income should be before buying a home

Answer

Brief Explanations:

In home - buying, a common rule of thumb is that a person or couple can afford a home priced up to about 3 times their annual income. Here, $48,000 is likely their annual income and multiplying it by 3 gives an estimate of the highest - priced home they can afford.

Answer:

A. An estimate of the highest price they can afford to pay for a home