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A family has a gross monthly income of $4395.Their monthly home mortgage payment is $1896. In general, lenders follow the 28 percent rule, meaning no

A family has a gross monthly income of $4395.Their monthly home mortgage payment is $1896. In general, lenders follow the "28 percent rule", meaning no more than 28 percent of your gross income should go towards your mortgage. Is this family within the recommended guidelines or are they spending too much for their home? Explain your answer.

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