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The Adeeva's gross monthly income is $ 6 3 0 0 . They have 1 8 remaining payments of $ 3 1 0 on a

The Adeeva's gross monthly income is $6300. They have 18 remaining payments of $310 on a new car. They are
applying for a 20-year, $135,000 mortgage at 7.0%. The taxes and insurance on the house are $470 per month. The
bank will only approve a loan that has a total monthly mortgage payment of principal, interest, property taxes,
and homeowners' insurance that is less than or equal to 28% of their adjusted monthly income.
Click here for table of Monthly Payments
a) Determine 28% of the Adeeva's adjusted monthly income.
$ (Round to the nearest cent.)
b) Determine the Adeeva's total monthly mortgage payment, including principal, interest, taxes, and homeowners'
insurance.
$ (Round to the nearest cent.)
c) Do they qualify for this mortgage?
Yes
No
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