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Suppose you take a 1 5 - year mortgage for a house that costs $ 2 2 6 , 7 4 9 . Assume the

Suppose you take a 15-year mortgage for a house that costs $226,749. Assume the following:The annual interest rate on the mortgage is 4.7%.The bank requires a minimum down payment of 8% of the cost of the house.The annual property tax is 1.5% of the cost of the house.The annual homeowner's insurance is $699.The monthly PMI is $59.If you make the minimum down payment, what is the minimum gross monthly salary you must earn in order to satisfy the 28% rule?Round your answer to the nearest dollar.

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