The Tarkanians can afford a maximum mortgage payment of $1000 per month. What is the maximum mortgage

Question:

The Tarkanians can afford a maximum mortgage payment of $1000 per month. What is the maximum mortgage loan they can afford if the amortization period is 25 years and the interest rate is:
a. 6.5% compounded semiannually?
b. 7.5% compounded semiannually?

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