Five years after our initial scenario, you've become a manager at work, and your salary has doubled
Question:
Five years after our initial scenario, you've become a manager at work, and your salary has doubled to $135,000. You decide to purchase a home for $643,750. You take out a 30-year, fixed-rate mortgage at 6.03% APR. You only could afford a 12% down payment on this house, so you're paying PMI at a rate of 0.75%. In addition to your mortgage payment and PMI, you have homeowners' insurance ($840/semiannual) and property tax ($11,520/year) on the house. Your utility payments also rise: You now have to pay $65/quarter for sewer. Water is now $120/quarter, gas is $90/month, electric = $150/month, and you have 2 cell phones (don't want your underlings at work having your "real" cell number) so the payment per month is $100. (TV/Internet stays at $75/month). One bit of good news on the debt front: because you're over 25, your car insurance payment drops to $990/semiannually. Determine your D/I ratio, correct to the nearest tenth of a percent