Assume that Kirsten wants a simple 30-year, fixed-interestrate mortgage, and that the lowest interest rate available to
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Assume that Kirsten wants a simple 30-year, fixed-interestrate mortgage, and that the lowest interest rate available to her is 8 percent. What is the most expensive home Kirsten can afford? (Assume there are no other fees associated with the mortgage.) What types of homes are available to Kirsten in this price range?
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