You have just signed a contract to purchase your dream house. the price is $140,000 and you have applied for a $110,000, 30-year, 4.5 percent loan. annual property taxes are expected to be $2,100. hazard insurance will cost $600 per year. your car payment is $450, with 36 months left. your monthly gross income is $4,000. calculate the total obligations (back-end) ratio.

obligation ratio: 0.3081    = 30.81%

Explanation:

Total oblication will include all the payment:

property taxes: 2,100 / 12 =   175

insurance:          600 / 12 =     50

car monthly payment:          450

mortage monthly payment: 557.35

Total obligation:                 1,232.35

mortgage monthly payment:

PV   110,000

time360 (30 years x 12 months per year)

rate0.00375 (0.045 divide into 12 months to get the monthly rate)

C   557.354

total obligation ratio:

1,32.35 / 4,000 =  0.3081  

the first successful, urban blues recording, selling more than 75,000 copies, was made in year 1920.

mamie smith recorded the first commercially successful example of the urban blues,   with the recording of “crazy blues”."crazy blues" was recorded on august 10, 1920, in new york city. within a month of the release of “crazy blues” it had sold 75,000 copies.