Question 7 1 pts What is the back-end ratio for a borrower looking to purchase a $400,000 home with a $320,000 mortgage? The mortgage has a rate of 6% and a term of 30 years. The borrower makes $160,000 per year and has $1,000/month in school loans and makes a car payment of $850/month. The property taxes on the property are $4,000/year, the hazard insurance premium is $800/year, and there are no association dues. Please input your answer as a percentage (i.e. 25.5% would be input as 25.5)