Jack and Jill are looking to buy a house. They found the perfect one
selling for $500,000. Usi...
Mathematics, 19.03.2020 20:47 sza2016
Jack and Jill are looking to buy a house. They found the perfect one
selling for $500,000. Using savings, Jack and Jill can make a down payment of
$30,000. The current APR for a 30-year mortgage is 3.5%, if the monthly
mortgage payment should be no more than 30 percent of their monthly gross
income, how much must Jack and Jill earn monthly so that they can afford the
house?
Answers: 3
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