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The Total Household Income Available Is $3963

question 66

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The total household income available is $3963. Mortgage payments including taxes, principal, and interest are $1189. In addition, there are condo fees of $126 and heating costs of $56 monthly and a car lease of $241. What is the gross debt service ratio?


Definitions:

Point C To D

A reference to moving or transitioning from one defined position or condition to another within a given context.

Unemployment Of Resources

refers to the situation where available factors of production such as labor, capital, and land are not being used in the production process.

Bowed-Out Frontier

Describes a production possibility frontier that curves outward, indicating increasing opportunity costs for producing goods.

Production Of Good

The process of creating or manufacturing merchandise that satisfies consumer demands.

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