FG3: Use the FED Personal Only Budget students 9-2-20 in canvas to verify that with a grade 3 salary $70,000.00 and expenses with a mortgage payment on a $150,000.00 loan at 3.75% interest over 30 years (property tax will automatically calculate) and (no rental expense) plus a car payment on a $20,000.00 car loan at 4.72% interest over 6 years, your Net income less debt service (interest & principle monthly payment") on the home mortgage, car loan, & real-estate taxes, is 25% greater than the sum of your mortgage, car, & real-estate tax payments (referred to as a 1.25 debt service coverage ratio). All other expenses need to be reasonable and you can only cut expense you can control such as entertainment, clothing, etc. FG3: Use the FED Personal Only Budget students 9-2-20 in canvas to verify that with a grade 3 salary $70,000.00 and expenses with a mortgage payment on a $150,000.00 loan at 3.75% interest over 30 years (property tax will automatically calculate) and (no rental expense) plus a car payment on a $20,000.00 car loan at 4.72% interest over 6 years, your Net income less debt service (interest & principle monthly payment") on the home mortgage, car loan, & real-estate taxes, is 25% greater than the sum of your mortgage, car, & real-estate tax payments (referred to as a 1.25 debt service coverage ratio). All other expenses need to be reasonable and you can only cut expense you can control such as entertainment, clothing, etc