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Author Question: Illustrate how GDS and TDS ratios as well as cash flow are important in calculating what size ... (Read 151 times)

iveyjurea

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on: Nov 11, 2019
Illustrate how GDS and TDS ratios as well as cash flow are important in calculating what size mortgage a person can afford.  Use the following example to illustrate your conclusion.

Hannah earns an annual salary of $72 000 and has following monthly expenses.

Taxes and benefits:$1800
Rent$1300
Groceries and restaurants:$700
Transportation misc$300
Car loan, 3 more years$300
Hobbies and entertainment$550
Student loan, 5 more years$350
RRSP Savings$700

Hannah has $31 000 saved in her RRSP. There is a new condo development going up in her area and she hopes to be able to purchase her own place. The unit she has her heart set on costs $310 000 and they advertise a mortgage rate of 3.5%, compounded semi-annually, for this development. The property taxes will be $170 per month, heating costs $80, and condo fees $300.
Personal Finance ¦ Madura, Gill ¦ 3rd Edition
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Marked as best answer by iveyjurea on Nov 11, 2019

makaylafy

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Reply #1 on: Nov 11, 2019
Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.
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iveyjurea

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Reply 2 on: Nov 11, 2019
Great answer, keep it coming :)

amandalm

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Reply 3 on: Yesterday
Thanks for the timely response, appreciate it

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