Martina and Anton Are Attempting to Qualify for Total Mortgage

question 19

Multiple Choice

Martina and Anton are attempting to qualify for total mortgage financing of $1486,heating costs of $68,and they have a car loan payment of $346.What minimum gross monthly income will they need to qualify for both GDS ratio of 30 percent and TDS ratio of 40 percent?

• A)$6333
• B)$4750
• C)$5180
• D)$4953

---

Definitions:

Upward-sloping Line

A graphical representation often used to show a positive relationship between two variables on a graph, indicating that as one variable increases, the other does as well.

Entrepreneurs

Individuals who initiate, manage, and take on the risks of a new business or venture, aiming to transform innovations into economic goods.

Gamblers

Individuals who risk something of value, often money, on the outcome of an event which is determined largely by chance.

Entrepreneur

An individual who creates, organizes, and manages a business venture, taking on financial risk in the hope of profit.