an. a. The bank employs the 30% rule: no more than 30% of your gross income may be allocated to mortgage and property tax. Sophie has a gross monthly income of $6,400, and expects to have to pay $3,600 a year in property tax. What is the maximum mortgage she qualifies for, if she is looking for a 25 year amortization at 4.0% compounded semi-annually? PNY 12 CNY 2. 50 N 4. INY 6400 PV 139 PMT 0 FV BGN/ON BGN SAVE PROGRESS