Question

Suppose that you are buying a house. You and your realtor have determined that the most expensive house you can

afford is the 34th percentile. The 34th percentile of housing prices is $240,000 in the town you want to move to. Which of the following statement is correct?

Question 1 options:

a) You cannot afford 34% of the houses in that town

b) You can afford houses that are not more than $240,000

c) You can afford 66% of the houses in that town

d) You can afford 34 homes in that town