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Calculate the Gross Debt Service (GDS) and the Total Debt Service (TDS) ratios for the following data. (Round your answers to 2 decimal places. Omit
Calculate the Gross Debt Service (GDS) and the Total Debt Service (TDS) ratios for the following data. (Round your answers to 2 decimal places. Omit the "\%" sign in your response.) Monthly mortgage payment =$2,600 Property taxes =$300 Heating costs =$215 Other housing costs =$170 Personal loan payment =$250 Car loan payment =$300 Credit card payment =$250 Gross monthly household income =$12,800 Eapicture Click here for the Excel Data File Estimate the affordable monthly mortgage payment, the affordable mortgage amount, and the affordable home purchase price for the following situation using the Total Debt Service ratio. (Refer to Exhibit 7-7 and Exhibit 7-8) (Round time value factor to 2 decimal places, intermediate and final answers to the nearest dollar amounts. Omit the "\$" sign in your response.)
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