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26 A borrower earns $8,000 in monthly gross income, has a $900 principal and interest conventional mortgage payment, a property tax escrow payment of $80 per month, a minimum monthly credit card payment of $200 and an auto loan Installment of $300. Furthermore, the borrower contributed $200 to charity and pald an advance of $500 to a furniture vendor. What is the borrower's debt-to-income ratio? A) 12.25% B) 16.00% C) 17.25% D) 18.50%

26 A borrower earns $8,000 in monthly gross income, has a $900 principal and interest conventional mortgage payment, a property tax escrow payment of $80 per month, a minimum monthly credit card payment of $200 and an auto loan Installment of $300. Furthermore, the borrower contributed $200 to charity and pald an advance of $500 to a furniture vendor. What is the borrower's debt-to-income ratio? A) 12.25% B) 16.00% C) 17.25% D) 18.50%

Advanced Engineering Mathematics
Advanced Engineering Mathematics
10th Edition
ISBN:9780470458365
Author:Erwin Kreyszig
Publisher:Erwin Kreyszig
Chapter2: Second-order Linear Odes
Section: Chapter Questions
Problem 1RQ
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26 A borrower earns $8,000 in monthly gross income, has a $900 principal and interest conventional mortgage payment, a property tax escrow payment of $80 per month, a minimum monthly credit card payment of $200 and an auto loan Installment of $300. Furthermore, the borrower contributed $200 to charity and pald an advance of $500 to a furniture vendor. What is the borrower's debt-to-income ratio? A) 12.25% B) 16.00% C) 17.25% D) 18.50%
Transcribed Image Text:26 A borrower earns $8,000 in monthly gross income, has a $900 principal and interest conventional mortgage payment, a property tax escrow payment of $80 per month, a minimum monthly credit card payment of $200 and an auto loan Installment of $300. Furthermore, the borrower contributed $200 to charity and pald an advance of $500 to a furniture vendor. What is the borrower's debt-to-income ratio? A) 12.25% B) 16.00% C) 17.25% D) 18.50%
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