Question: Nancy earns $80,000 per year and has applied for a $300,000, 30-year mortgage at 8% interest, paid monthly. Property taxes on the house are expected

Nancy earns $80,000 per year and has applied for a $300,000, 30-year mortgage at 8% interest, paid monthly. Property taxes on the house are expected to be $4,800 per year. Nancy has an auto loan and needs to make $600 monthly repayment for the auto loan. What is the gross debt service ratio?

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