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Determining the current monthly expenses

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Dorothy and Matt are ready to purchase their first home. Their current monthly income is $4900, and their current monthly expenses are $3650. Their rent makes up $650 of their cash flow. They would like to put 10 percent of their income in savings every month and leave another $200 per month in their chequing account for emergencies. How much of a mortgage payment, including taxes and utilities, can they manage under these conditions?

Reference no: EM132540374

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