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I will upvote, show the work please! 5) Given: Applicant's monthly gross income is $2,500. The following are all monthly expenses. Mortgage payment Car payment

I will upvote, show the work please! image text in transcribed
5) Given: Applicant's monthly gross income is $2,500. The following are all monthly expenses. Mortgage payment Car payment Property taxes Mortgage insurance Electric bill Telephone bill $600 250 95 40 50 75 The applicant is trying to qualify for a mortgage. Using the standard ratios of 28% and 36%, he would qualify by: c. a. The mortgage debt ratio only b. The total debt ratio only both the mortgage and total debt ratios d. neither ratio I must see your math in how you calculated this

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