Question: please help answer round to the nearest dollar Determine the maximum 30-year fixed rate mortgage amount for which a couple could quality if the rate
Determine the maximum 30-year fixed rate mortgage amount for which a couple could quality if the rate is 497 percent. Assume they have other debt payments totaling $311 per month and a combined annual income of $87.500. Monthly escrow payments for real estate taxes and homeowner's insurance are estimated to be $267 (Assume a 36 percent maximum of annual income for total debt and escrow payments.) The maximum 30-year fixed rate mortgage amount for which a couple could qualify it the rate is 4.97% is (Round to the nearest doilar)
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