Narrative 14-2
For problems in this section, use Table 14-1 from your text to find monthly mortgage payments.
-Refer to Narrative in your text 14-2. Harold Stiles earns a gross income of $2,960 per month. He has made application for a mortgage with a monthly PITI of $596.20. Harold has other financial obligations totaling $219 per month. (Use the ratio guidelines from your text)
A)What is Harold's housing expense ratio? (Round to the nearest tenth of a percent)
B)What is Harold's total obligations ratio? (Round to the nearest tenth of a percent)
Correct Answer:
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Q91: Narrative 14-2
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Q92: Narrative 14-2
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Q93: Narrative 14-2
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Q94: Narrative 14-2
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Q95: Narrative 14-2
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Q97: Narrative 14-2
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Q98: Narrative 14-2
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Q99: Narrative 14-2
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Q100: Narrative 14-2
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Q101: Narrative 14-2
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