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help The Adeeva's gross monthly income is $5000. They have 18 remaining payments of $360 on a new car They are applying for a 20-year,
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The Adeeva's gross monthly income is $5000. They have 18 remaining payments of $360 on a new car They are applying for a 20-year, $124,000 mortgage at 6.5%. The taxes and insurance on the house are $310 per month. The bank will only approve a loan that has a total monthly mortgage payment of principal, interest, property taxes, and homeowners' insurance that is less than or equal to 28% of their adfusted monthly income. Complete parts (a) through (c) below. Click the icon to view the table of monthly paryments a) Determine 28% of the Adeeva's adjusted monthly income. (Round to the nearest cent.) b) Determine the Adeeva's total monthly mortgage payment, including principal, interest, taxces, and homeowners' insurance. (Round to the nearest cont) c) Do they qualify for this mortgage? Yes No Step by Step Solution
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