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Jack and Jill Jolly are thinking about buying a home. Their combined monthly income is $5,

Jack and Jill Jolly are thinking about buying a home. Their combined monthly income is $5, 000, and they have $30, 000 savings in a bank. They also have existing debt that requires monthly payments of $350 for a car, $200 for furniture, and $250 for revolving credit. How large a mortgage loan could they expect to get if the current interest rate is 8.5 percent? How expensive a home could they buy?

 

Dec 04 2019 View more View Less

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