Suppose your gross monthly income of 7000 assume that you, Financial Management

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Suppose your gross monthly income of 7000 assume that you

Suppose your gross monthly income of $7,000. Assume that you expect property taxes and insurance to be $300 per month. In addition, assume you have automobile and student loan payments of $450 per month. If 30 year fixed rate mortgages have a current annual percentage rate of 7 percent, how much will you qualify to borrow on the payment to income ratios that mortgage lenders use as guidelines?

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