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The Cantus is looking at buying a new house in Surrey. Their bank uses the 32% rule: no more than 32% of their gross monthly

The Cantus is looking at buying a new house in Surrey. Their bank uses the 32% rule: no more than 32% of their gross monthly income can go towards paying their mortgage, property taxes and heating costs. If their monthly gross income is $12,500, property tax is $3,600 per year and heating cost is $125 per month, what is the maximum monthly mortgage payment they could afford? Question 10 options: $3,825 $4,425 $2,808 $2,723 $3,575

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