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If her bank requires a gross debt service ratio of no more

Jane Doe earns 24,000 per year and has applied for an 80,000. 30 year mortgage at 6 percent interest. Property taxes on the house are expected to be $1200 per year. If her bank requires a gross debt service ratio of no more than 30 percent, will Jane be able to obtain the mortgage? Please show all work!

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Finance Basics: If her bank requires a gross debt service ratio of no more

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