Banks use a formula called the monthly housing cost to gross income ratio to determine whether or
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Question:
Banks use a formula called the monthly housing cost to gross income ratio to determine whether or not to provide a mortgage to an individual. Which of these items is not considered in this formula? Principal payment on the mortgage Interest payment on the mortgage Income taxes paid Homeowner's insurance premiums
Related Book For
Contemporary Business Mathematics with Canadian Applications
ISBN: 978-0133052312
10th edition
Authors: S. A. Hummelbrunner, Kelly Halliday, K. Suzanne Coombs
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