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Pavati decided that is was time to start looking for a home and considers their prequalifications for their loan. After talking with a lender, Pavati

Pavati decided that is was time to start looking for a home and considers their prequalifications for their loan. After talking with a lender, Pavati was informed that they uses the qualifying ratios of 30/42. Pavati's monthly income is $3,600 and has income from interest in an investment of approximately $64.58 a month. Pavatl also has a $775 monthly car payment and two credit cards with $25 minimum payment and $15 minmimum payment each month. If Pavatl estimates that property taxes will cost about $1,650 a year and insurance will cost about $340 a year, what is an approximated maximum monthly payment that they can qualify for?
Use the answers to the following to help answer the question.
Estimated monthly payment using the front-end ratio: (30%)$
Estimated monthly payment using the back-end ratio: (42%)$
Estimated maximum monthly payment:
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