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Question 18 1 pts Suppose you take out a 20-year mortgage for a house that costs $351508. Assume the following . The annual interest rate
Question 18 1 pts Suppose you take out a 20-year mortgage for a house that costs $351508. Assume the following . The annual interest rate on the mortgage is 4%. . The bank requires a minimum down paymentof 19% at the time of the loan The annual property tax is 1.7% of the cost of the house The annual homeowner's insurance is 1% of the cost of the house. The monthly PMI is $66 Your other long-term debts require payments of $999 per month If you make the minimum down payment, what is the minimum gross monthly salary you must earn in order to satisfy the 28% rule and the 36% rule simultaneously? Round your answer to the nearest dollar
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