monthly mortgage payment is 500, which is 16% of total monthly income. what is the monthly income

To find the total monthly income given that the monthly mortgage payment is $500, which is 16% of the total income, we can set up the following equation:

\[
0.16 \times \text{Total Monthly Income} = 500
\]

Now, solve for the total monthly income:

\[
\text{Total Monthly Income} = \frac{500}{0.16}
\]

\[
\text{Total Monthly Income} = 3125
\]

So, the total monthly income is **$3,125**.

Would you like more details or have any questions?

Here are 5 related questions:

1. What would the monthly mortgage payment be if the income was $4,000?
2. If the mortgage payment increased to $600, what percentage of the income would that be?
3. How much would the total income be if the mortgage payment were $700 at 16%?
4. If you wanted the mortgage payment to be only 10% of your income, what would your income need to be?
5. What is the total annual income based on the monthly income calculated?

**Tip:** When working with percentages, always remember that the percentage is a part of 100. For example, 16% is the same as 16/100 or 0.16 in decimal form.

Monthly mortgage payment is 500, which is 16% of total monthly income. What is the monthly income?

Learn how to calculate the total monthly income given that a $500 mortgage payment represents 16% of the income. This problem involves basic algebra and percentage calculations. Suitable for students in Grades 6-8.

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