Smith's family, with total gross income of $144000 per year, wants to purchase a home....
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Algebra
Smith's family, with total gross income of $144000 per year, wants to purchase a home. If %33 of their income goes to monthly payment and the interest rate is 3% compounded monthly, how much mortgage do they qualify for 30 yearsamortizations?a. $939269.95b. $849212.78c. $800300.69d. $889260.55e. $913591.26
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