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6. Tim and Sonia are getting prequalified for a mortgage loan. The lender has qualifying ratios of 29/41. Tim earns $2,200 a month and Sonia
6. Tim and Sonia are getting prequalified for a mortgage loan. The lender has qualifying ratios of 29/41. Tim earns $2,200 a month and Sonia earns $2,400 a month. The lender estimates property taxes at $2,000 a year and insurance at $550. Tim's car payment is $310; Sonia's car is paid off. They each have a minimum credit card payment of $30. What is the maximum monthly payment they qualify for?
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