MB Essential Math 40S Practice Questions - Manitoba Grade 12 Essential Mathematics 40S Provincial Achievement Test Exam

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A family has a gross monthly income of $5,000. Their monthly housing costs would be: mortgage payment $1,100, property taxes $250 and heating $100. What is their GDSR, and is the home affordable under the 32% rule?

32.0%; not affordable 34.5%; not affordable 22.0%; affordable 29.0%; affordable

Correct Answer:

29.0%; affordable

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