1 calculate GDS and TDS ratio and round it to two decimal points Monthly mortgage payment = $2,625 Property taxes = $305 Heating costs = $220 Other housing costs = $175 Personal loan payment = $255 Car loan payment = $305 Credit card payment = $255 Gross monthly household income = $13,050

2 What would be the monthly mortgage payments for each of the following

a A $57,000, 15-year loan at 10.0 percent APR compounded semi-annually b A $120,000, 25-year loan at 7.5 percent APR compounded semi-annually c A $108,000, 20-year loan at 5.5 percent APR compounded semi-annually