If a lender requires that mortgage payments cannot exceed 30% of gross income and total loan payments cannot exceed 38% of gross income,calculate the monthly payment for which a person with the following financial data could qualify.
Definitions:
Nodes
Points along a stem where leaves or branches originate, or in networks, points where lines or pathways intersect.
Periderm
Plant dermal tissue that replaces epidermis during secondary growth of eudicots and gymnosperms.
Cork Cambium
A layer of tissue in plants that produces cork cells for protection and waterproofing.
Pericycle
A layer of cells found just inside the endodermis of plant roots, involved in the formation of lateral roots.
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