Gabi wants to buy a flat.
The cost of the flat is £175 000
The bank uses this formula to work out the mortgage Gabi can get.
M= 4.625A
M= mortgage (£)
A = annual income (£)
Gabi has an annual income of £34 000
She will have to pay a deposit for the flat.
The deposit is the difference between the cost of the flat and the mortgage.
a) Work out the deposit that Gabi will have to pay.
I don’t know as much but I hope this could work so if you multiply 34,000 x 5 you get 170,000 but if if you add 5,000 you’ll get 175,000 So your welcome
