Question: Dorothy and Matt are ready to purchase their first home
Dorothy and Matt are ready to purchase their first home. Their current monthly cash inflows are $ 4,900, and their current monthly cash outflows are $ 3,650. Their rent makes up $ 650 of their cash flows. They would like to put 10% of their cash inflows in savings and put another $ 200 in their checking account for emergencies. How much of a mortgage payment can they manage under these conditions?
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