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Using the following information, calculate the housing expense ratio: monthly principal and interest on mortgage loan: $919; monthly tax and insurance payments into escrow: $337;

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Using the following information, calculate the housing expense ratio: monthly principal and interest on mortgage loan: $919; monthly tax and insurance payments into escrow: $337; gross monthly income: $3,982. Express in percentage but do not include the \% sign, and round it to two decimal places, e.g., 9.45 (for .0945 or 9.45% )

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