26 A borrower earns $8,000 in monthly gross income, has a $900 principal and interest conventional mortgage payment, a property tax escrow payment of $80 per month, a minimum monthly credit card payment of $200 and an auto loan Installment of $300. Furthermore, the borrower contributed $200 to charity and pald an advance of $500 to a furniture vendor. What is the borrower's debt-to-income ratio? A) 12.25% B) 16.00% C) 17.25% D) 18.50%
26 A borrower earns $8,000 in monthly gross income, has a $900 principal and interest conventional mortgage payment, a property tax escrow payment of $80 per month, a minimum monthly credit card payment of $200 and an auto loan Installment of $300. Furthermore, the borrower contributed $200 to charity and pald an advance of $500 to a furniture vendor. What is the borrower's debt-to-income ratio? A) 12.25% B) 16.00% C) 17.25% D) 18.50%
Chapter9: Sequences, Probability And Counting Theory
Section9.4: Series And Their Notations
Problem 5SE: What is an annuity?
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Transcribed Image Text:26 A borrower earns $8,000 in monthly gross
income, has a $900 principal and interest
conventional mortgage payment, a property tax
escrow payment of $80 per month, a minimum
monthly credit card payment of $200 and an
auto loan Installment of $300. Furthermore, the
borrower contributed $200 to charity and pald
an advance of $500 to a furniture vendor. What
is the borrower's debt-to-income ratio?
A) 12.25%
B) 16.00%
C) 17.25%
D) 18.50%
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