find out how much of a monthly mortgage his wife and him can afford?

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Business Finance

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1. Kanye and his wife, Kim, both work and have a combined gross income of $165,000 per year.   They estimate the property taxes on their condo will be $2,100 and insurance would be about $1,500 per year.  Kim has a car payment of $200 per month and they are both still paying off student loans for a combined total of $600 per month.  

a. Suppose the couple can get a 30 year loan with a rate of 3.5%, how much house could they afford based on the payment you found in part a?

 

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