Question
In: Finance
Michelle Duncan wants to know what price home she can afford. Her annual gross income is...
Michelle Duncan wants to know what price home she can afford. Her annual gross income is $51,600. She owes $690 per month on other debts and expects her property taxes and homeowners insurance to cost $340 per month. She knows she can get an 10.00%, 30-year mortgage so her mortgage payment factor is 8.78. She expects to make a 15% down payment. What is Michelle's affordable home purchase price? (Round your answer to the nearest dollar amount.)
Multiple Choice
-
$80,933
-
$78,609
-
$50,570
-
$944
-
$944
Solutions
jeff jeffy answered 1 year agoRelated Solutions
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