Essentials Of Investments
Essentials Of Investments
11th Edition
ISBN: 9781260013924
Author: Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher: Mcgraw-hill Education,
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93. Using the relevant information shown in the picture, what is a potential purchaser's housing expense ratio?
Monthly salary (husband): $6,248.67
Monthly salary (wife): $7,414.33
Monthly mortgage payment: $2,100
Interest rate: 6.5%
Term of loan: 30 years
Annual property tax: $5,500
Annual property insurance: $6,500
Monthly credit card: $300
Car payment: $250
(a) 9%
(b) 23%
(c) 25%
(d) 31%
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Transcribed Image Text:93. Using the relevant information shown in the picture, what is a potential purchaser's housing expense ratio? Monthly salary (husband): $6,248.67 Monthly salary (wife): $7,414.33 Monthly mortgage payment: $2,100 Interest rate: 6.5% Term of loan: 30 years Annual property tax: $5,500 Annual property insurance: $6,500 Monthly credit card: $300 Car payment: $250 (a) 9% (b) 23% (c) 25% (d) 31%
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