Utah Office of Administrative Rules | Administrative rules ...
Rule. To estimate annual income, multiple the hourly rate by 2,080. Why? There are about 2,080 paid working hours in a year (52 weeks X 40 hours per week) Example. William earns $12.36 per hour. How much money may he borrow for a home? $12.36 X 2,080 = $25,708.80 (annual income) $25,708.80 X 2.5 (banker’s rule) = $64,272.00 (amount that may ... ................
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