Business, 12.01.2021 18:20 felicityhanson1252

Estimate the affordable monthly mortgage payment, the affordable mortgage amount, and the affordable home purchase price for the following situation. (Refer to Exhibit 9-8 and Exhibit 9-9) (Round time value factor to 2 decimal places, intermediate and final answers to the nearest whole dollar.) Monthly gross income $ 4,700
Down payment to be made (percent of purchase price) 20 percent
Other debt (monthly payment) $ 260
Monthly estimate for property taxes and insurance $ 490
30-year loan 8.5 percent
Affordable monthly mortgage payment $
Affordable mortgage amount $
Affordable home purchase $

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