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George and Barbara want to buy a house, they have combined incomes of $150,000 annually. Property...

George and Barbara want to buy a house, they have combined incomes of $150,000 annually. Property taxes on their new home will be about $3,600 annually and homeowner’s insurance will be about $1,800. How much can they afford to borrow with a 4.0% fifteen-year mortgage if their lender requires a front-end ratio of 28%?

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IF ANY QUERY, FEEL FREE TO ASK THEM AND GET RESOLVED Solution: 1 Affordable payment income x front end ratio - property tax -

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