Question 5: (25 points) SHOW YOUR CALCULATION Calculate the
maximum, purchase price that a couple can afford for the dream
house.
Question 5 25 Points Show Your Calculation Calculate The Maximum Purchase Price That A Couple Can Afford For The Dre 1 (20.76 KiB) Viewed 56 times
Maximum purchase capacity: $__________________________
• GDS ratio 32% • TDS ratio 42% • Available down payment $20,000 • Borrower's income: $45,000 Spouse's income: $30,000 Municipal taxes: $ 2,400 School taxes : $600 • Annual heating cost : $1,440 • Mortgage interest and amortisation period : 5.0 % - 25 years Other debts: Car loan (monthly): Credit Card (monthly): $250 $225
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