Bar graphs are used to compare things between different groups or to track changes over time. However, when trying to measure change over time, bar graphs are best when the changes are larger. . . . an Area Graph. Area graphs are very similar to line graphs.
The typical bank limit on monthly mortgage payments is about 28 percent of your gross monthly income. Therefore, the bank thinks you can devote up to 28 percent of your household income to your mortgage payment and expenses (including taxes, insurance and association dues).
Mortgages are all about percentages. Mortgage lenders display their interest rates prominently, but they seldom explain exactly how those rates work. If you were to take out a $200,000 mortgage for 30 years at, say, 7.5 percent interest, your monthly payment would be about $1,400. How does the 7.5 percent interest factor into that?