13. The Ungers have an adjusted gross income of $117,445. They are looking at a new house that would carry a monthly mortgage payment of $1,877. Their annual property taxes would be $6,780, and their semi-annual homeowner's premium would be $710. a. Find their front-end ratio to the nearest percent. b. Assume that their credit rating is good. Based on the front-end ratio, would the bank offer them a loan? Explain. c. The Ungers have a monthly car loan of $430, and their average monthly credit card bill is $5,100. Mr. Unger is also paying $1,000 per month in child support from a previous marriage. Compute the back-end ratio to the nearest percent. d. If the bank used both the front-end and back-end ratios to decide on mortgage approval, would the Ungers get their mortgage? Explain. 14

13. The Ungers have an adjusted gross income of $117,445. They are looking at a new house that would carry a monthly mortgage payment of $1,877. Their annual property taxes would be $6,780, and their semi-annual homeowner's premium would be $710. a. Find their front-end ratio to the nearest percent. b. Assume that their credit rating is good. Based on the front-end ratio, would the bank offer them a loan? Explain. c. The Ungers have a monthly car loan of $430, and their average monthly credit card bill is $5,100. Mr. Unger is also paying $1,000 per month in child support from a previous marriage. Compute the back-end ratio to the nearest percent. d. If the bank used both the front-end and back-end ratios to decide on mortgage approval, would the Ungers get their mortgage? Explain. 14

Name: 13. The Ungers have an adjusted gross income of $117,445. They are lo
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Description: 13. The Ungers have an adjusted gross income of $117,445. They are looking ata new house that would carry a monthly mortgage payment of $1,877. Theirannual property taxes would be $6,780, and their semi-annual homeowner'spremium would be $710.a. Fin

Algebra and Trigonometry (6th Edition)

6th Edition

ISBN:9780134463216

Author:Robert F. Blitzer

Publisher:Robert F. Blitzer

ChapterP: Prerequisites: Fundamental Concepts Of Algebra

Section: Chapter Questions

Problem 1MCCP: In Exercises 1-25, simplify the given expression or perform the indicated operation (and simplify,...

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