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QUESTION 4 Use the following advice from most financial advisors to solve the problem. Spend no more than 28% of your gross monthly income for

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QUESTION 4 Use the following advice from most financial advisors to solve the problem. Spend no more than 28% of your gross monthly income for your mortgage payment. Spend no more than 36% of your gross monthly income for your total monthly debt. Round all calculations to the nearest dollar, if necessary. Suppose that your gross anual income is $36,000. (a) What is the maximum amount you should spend each month on a mortgage payment? (b) What is the maximum amount you should spend each month for total credit obligations? low your monthly mortgage payment is 65% of the maximum amount you can afford, what is the maximum amount you should spend each month for all other debt? (a) 5840: (b) $1080; (c) $546 (a) 5840; (b) $1080; (5138 (a) 5840; (b) $1080; (c) $534 (a) $10,080; (b) $12.960: ()56408

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