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Use the following advice from most financial advisors to solve the problem. Spend no more than 28% of your gross monthly income for your mortgage

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Use the following advice from most financial advisors to solve the problem. Spend no more than 28% of your gross monthly income for your mortgage payment. Spend no more than 36% of your gross monthly income for your total monthly debt. Round all calculations to the nearest dollar, if necessary. Suppose that your gross annual income is 596,000. (a) What is the maximum amount you should spend each month on a mortgage payment? (b) What is the maximum amount you should spend each month for total credit obligations? (c) If your monthly mortgage payment is 90% of the maximum amount you can afford, what is the maximum amount you should spend each month for all other debt? O A. (a) $2,240; (b) $2,880; (c) $352 O B. (a) $2,240: (b) $2,880; (c) $864 OC. (a) $2,240; (b) $2,880; (c) $2,016 OD. (a) $26,880; (b) $34,560; (c) $10,368

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