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1 points Sve Arwer You are ready to buy a house, and you have $20,000 for a down payment and closing costs. Closing costs are

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1 points Sve Arwer You are ready to buy a house, and you have $20,000 for a down payment and closing costs. Closing costs are estimated to be 4% of the loan value. You have an annual salary of $36,000 (monthly income $3000). and the bank is willing to allow your monthly mortgage payment to be equal to 25% of your monthly income. The interest rate on the loan is 6% per year with monthly compounding (5% per month) for a 30-year fixed rate loan. How much money will the bank loan you? How much can you offer for the house? How much is the Bank loan? a, $125,094 b, $145,000 c. $218.365 d. S80,227 e. $180,999 1, 5650,000

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