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Suppose you take a 10-year mortgage for a house that costs $219,719. Assume the following: The annual interest rate on the mortgage is 3.5%. The

Suppose you take a 10-year mortgage for a house that costs $219,719. Assume the following:

The annual interest rate on the mortgage is 3.5%.

The bank requires a minimum down payment of 10% of the cost of the house.

The annual property tax is 1.6% of the cost of the house.

The annual homeowner's insurance is $677.

The monthly PMI is $65.

Your other long-term debts require payments of $1,529 per month.

If you make the minimum down payment, what is the minimum gross monthly salary you must earn in order to satisfy the 36% rule?

Round your answer to the nearest dollar.

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