Submit Answer 10. [-/1.05 Points] DETAILS MY NOTES SMITHNM13 11.6.055. ASK YOUR TEACHER PRACTICE ANOTHER Suppose...
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Submit Answer 10. [-/1.05 Points] DETAILS MY NOTES SMITHNM13 11.6.055. ASK YOUR TEACHER PRACTICE ANOTHER Suppose your gross monthly income is $5,300 and your current monthly payments are $475. If the bank will allow you to pay up to 36% of gross monthly income (less current monthly payments) for a monthly house payment, what is the maximum loan you can obtain if the rate for a 30-year mortgage is 4.65%? (Round your answer to the nearest cent.) Submit Answer 10. [-/1.05 Points] DETAILS MY NOTES SMITHNM13 11.6.055. ASK YOUR TEACHER PRACTICE ANOTHER Suppose your gross monthly income is $5,300 and your current monthly payments are $475. If the bank will allow you to pay up to 36% of gross monthly income (less current monthly payments) for a monthly house payment, what is the maximum loan you can obtain if the rate for a 30-year mortgage is 4.65%? (Round your answer to the nearest cent.)
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