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Dorothy and Matt are ready to purchase their first home. Their current monthly cash inflows are $4,800 and their current monthly cash outflows are $3,387.Their
Dorothy and Matt are ready to purchase their first home. Their current monthly cash inflows are $4,800 and their current monthly cash outflows are
$3,387.Their rent makes up $624 of their cash outflows. They would like to put 10% of their cash inflows in savings and put another $192
per month in their checking account for emergencies. How much of a mortgage payment can they manage under these conditions?
Under these conditions, they can manage a mortgage payment of ____________________
(Round to the nearest dollar.)
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