Duane Miller wants to know what price home he can afford. His annual gross income is $54,000. He has no other debt expen
Posted: Wed Mar 09, 2022 8:45 am
Duane Miller wants to know what price home he can afford. His
annual gross income is $54,000. He has no other debt expenses and
expects property taxes and insurance to cost $490 per month. He
knows he can get a 9.50%, 15 year mortgage so his mortgage payment
factor is 10.44. He expects to make a 15% down payment. What is
Duane's affordable home purchase price? (Round your
answer to the nearest whole dollar.)
Multiple Choice
$132,997
$91,539
$162,471
$112,125
$61,261
annual gross income is $54,000. He has no other debt expenses and
expects property taxes and insurance to cost $490 per month. He
knows he can get a 9.50%, 15 year mortgage so his mortgage payment
factor is 10.44. He expects to make a 15% down payment. What is
Duane's affordable home purchase price? (Round your
answer to the nearest whole dollar.)
Multiple Choice
$132,997
$91,539
$162,471
$112,125
$61,261