Calculate the housing expense ratio and the total obligation ratio (in %) for the following mortgage applications. (Round your answers to two decimal places.) Applicant Monthly Gross Income Monthly PITI Expense Other Monthly Financial Obligations Housing Expense Ratio (%) Total Obligations Ratio (%) Emerson $2,800 $733 $280

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Q: Calculate the housing expense ratio and the total obligation ratio (in %) for the following mortgage…

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