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Suppose a family has a gross annual income of $ 39,600 . a. What is the maximum amount the family should spend each month on

Suppose a family has a gross annual income of $39,600.

a. What is the maximum amount the family should spend each month on a mortgage payment?

b. What is the maximum amount the family should spend each month for total credit obligations?

c. If the family's monthly mortgage payment is 70% of the maximum they can afford, what is the maximum amount they should spend each month for all other debt?

ANXSWER QUESTION C

a. The maximum monthly mortgage payment should be $924

b. The maximum monthly total credit obligations should be $1188

c. The maximum amount they should spend monthly on all other debt is ?????____________????

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