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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

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: Monthly gross income: $5150 Down payment to be made (percent of purchase price) 20 percent Other debt (monthly payment) $300 monthly estimate for property taxes and insurance $400 25 year loan at 8.0 percent

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