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Advice from most financial advisers states to spend no more than 28% of one's gross...

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Advice from most financial advisers states to spend no more than 28% of one's gross monthly income for one's mortgage payment, and to spend no more than 36%of one's gross monthly income for one's total monthly debt. Suppose a family has a gross annual income of $39,600.a. What is the maximum amount the family should spend each month on a mortgage payment?b. What is the maximum amount the family should spend each month for total credit obligations?c. If the family's monthly mortgage payment is 70% of the maximum they can afford, what is the maximum amount they should spend each month for all other debt?a. The maximum monthly mortgage payment should be $.....

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