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with number solutions please 12A-35 The couple in Problem 12A-}} has only enough money for a 10% down payment and ocher cles- ing costs. Thus
with number solutions please
12A-35 The couple in Problem 12A-}} has only enough money for a 10% down payment and ocher cles- ing costs. Thus the bank is offering a loan at a higher rate of 5.154 and requinng private mort- page insurance, which cous ise of the loan amount cach year. Contributed by Kule Abel, Stevens Inseri- mule of Talmolons (a) T the maximum debt-to-Income ratio (total monthly debt divided by alter-tax monthly income) is still 4346. can the couple afford to purchase the home? (b) If the couple lives in the house for 30 years, what is the total amount rud for the house. including down payment, principal. interest. and private mortgage insurance! 12A-35 The couple in Problem 12A-}} has only enough money for a 10% down payment and ocher cles- ing costs. Thus the bank is offering a loan at a higher rate of 5.154 and requinng private mort- page insurance, which cous ise of the loan amount cach year. Contributed by Kule Abel, Stevens Inseri- mule of Talmolons (a) T the maximum debt-to-Income ratio (total monthly debt divided by alter-tax monthly income) is still 4346. can the couple afford to purchase the home? (b) If the couple lives in the house for 30 years, what is the total amount rud for the house. including down payment, principal. interest. and private mortgage insurance Step by Step Solution
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