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Impact on the amount of mortgage loan

Problem:

Lets say you may be looking into acquiring a home in the near future. One common question is how large a mortgage loan you can afford. Now Go to http://interest.com and click on the "Mortgage" tab and then on "calculators." Choose the "mortgage required income calculator." Input your expected future salary data.

- How large a mortgage can you afford according to the calculator? Increase your debt to see the impact on the amount of mortgage loan you will qualify for. If my husbands and my income is around 55.000 annual. but in the future goes up to lets say 80 to 100.000?

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## Q : Nominal annual interest rate compounded monthly

Amount of money should you pay each month to retire a $12000 debt in five years if interest rate on money is 10% nominal annual interest rate compounded monthly