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2. Your annual salary is $110,000. A lenders qualification ratio for loan origination is 27% of your monthly income. The rate for a 30-year FRM

2. Your annual salary is $110,000. A lenders qualification ratio for loan origination is 27% of your monthly income. The rate for a 30-year FRM mortgage is 7%. b. What is the maximum loan size you qualify for? (10 points)

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