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Your buyer provides you with the following information. Calculate the necessary yearly gross salary (use 32% GDS ratio only) to acquire a bungalow at a

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Your buyer provides you with the following information. Calculate the necessary yearly gross salary (use 32% GDS ratio only) to acquire a bungalow at a sale price of $295,000. (4 points) Sale price: $295,000 Down payment: $53,100 Applicable CMHC insurance premium: 1.80% Mortgage interest rate: 4.45%, term 5 years, amortization 25 years Annual municipal taxes: $3,540 Monthly car loan payment: $215 Annual school taxes: $576 Annual heating costs: $1,860 GDS ratio: 32% Submit answer >

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