A lender requires that monthly mortgage payments be no more than 25% of gross monthly income with
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A lender requires that monthly mortgage payments be no more than 25% of gross monthly income with a maximum term of 30 years. If you can make only a 15% down payment, what is the minimum monthly income you would need in order to purchase a $400,000 house when the interest rate is 9% compounded monthly?
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Given purchase price 400000 down payment 600...View the full answer
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ABHISHEK KUMAR
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