Calculate the housing expense ratio and the total obligation ratio (in %) for the following mortgage applications. (Round your answers to two decimal places.) Applicant Monthly Gross Income Monthly PITI Expense Other Monthly Financial Obligations Housing Expense Ratio (%) Total Obligations Ratio (%) Martin $3,900 $605 $620 % %
Calculate the housing expense ratio and the total obligation ratio (in %) for the following mortgage applications. (Round your answers to two decimal places.) Applicant Monthly Gross Income Monthly PITI Expense Other Monthly Financial Obligations Housing Expense Ratio (%) Total Obligations Ratio (%) Martin $3,900 $605 $620 % %
Pfin (with Mindtap, 1 Term Printed Access Card) (mindtap Course List)
7th Edition
ISBN:9780357033609
Author:Randall Billingsley, Lawrence J. Gitman, Michael D. Joehnk
Publisher:Randall Billingsley, Lawrence J. Gitman, Michael D. Joehnk
Chapter7: Using Consumer Loans
Section: Chapter Questions
Problem 5FPE
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Calculate the housing expense ratio and the total obligation ratio (in %) for the following mortgage applications. (Round your answers to two decimal places.)
Applicant | Monthly Gross Income |
Monthly PITI Expense |
Other Monthly Financial Obligations |
Housing Expense Ratio (%) |
Total Obligations Ratio (%) |
---|---|---|---|---|---|
Martin | $3,900 | $605 | $620 | % | % |
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