Aman is looking to purchase a home in the cleveland suburbs. he has enough for a 20% down payment and an income of $70,000 per year. his fico score is 660. the prime interest rate for 30-year mortgages is 5%. he has a car payment of $400 per month and a student loan payment of $200 per month. the home he finds has 70 effective property tax mills and homeowner’s insurance costs $50 per month on every $100,000 of home value. how much can the man pay for the home? how large of a mortgage will the bank allow him take out?

The business cycle is the periodic but irregular up-and-down movement in economic activity, measured by fluctuations in real gross domestic product (gdp) and other macroeconomic variables. a business cycle is typically characterized by four phases—recession, recovery, growth, and decline—that repeat themselves over time. economists note, however, that complete business cycles vary in length. the duration of business cycles can be anywhere from about two to twelve years, with most cycles averaging six years in length. some business analysts use the business cycle model and terminology to study and explain fluctuations in business inventory and other individual elements of corporate operations. but the term "business cycle" is still primarily associated with larger (industry-wide, regional, national, or even international) business trends.