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Suppose you take a 15-year mortgage for a house that costs $227,197. Assume the following: The annual interest rate on the mortgage is 4.1%. The

Suppose you take a 15-year mortgage for a house that costs $227,197. Assume the following:

The annual interest rate on the mortgage is 4.1%.

The bank requires a minimum down payment of 14% of the cost of the house.

The annual property tax is 1.4% of the cost of the house.

The annual homeowner's insurance is $571.

The monthly PMI is $62.

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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