ellrid673 ellrid673

17-12-2022
Mathematics

Answered

Suppose your gross monthly income is $6,500 and your current monthly payments are $525. If the
bank will allow you to pay up to 38% of your gross monthly income (less current monthly payments)
for a monthly house payment, what is the maximum loan you can obtain if the rate for a 25-year
mortgage is 8.65%?

Answer :

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