Question
Suppose your gross monthly income is $5,300 and your current monthly payments are $525. If the bank will allow you to pay up to 36%
Suppose your gross monthly income is $5,300 and your current monthly payments are $525. If the bank will allow you to pay up to 36% of gross monthly income (less current monthly payments) for a monthly house payment, what is the maximum loan you can obtain if the rate for a 30-year mortgage is 4.65%? (Round your answer to the nearest cent.)
answer :$
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Multinational Business Finance
Authors: David Eiteman, Arthur Stonehill, Michael Moffett
15th Global Edition
129227008X, 9781292270081
