Suppose a family has a gross annual income of exist37, 200.
a. What is the maximum amount the family should spend each month on a mortgage payment?
b. What is the maximum amount the family should spend each month for total credit obligations?
c. If the family's monthly mortgage payment is 80% of the maximum they can afford, what is the maximum amount they should spend each month for all other debt?
a. The maximum monthly mortgage payment should be exist.