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15. Jane and Tom are searching for their first house. They have saved $50,000 for down-payment. Their mortgage company, offering a 30-year 6.0% loan, suggests

15. Jane and Tom are searching for their first house. They have saved $50,000 for down-payment. Their mortgage company, offering a 30-year 6.0% loan, suggests that they spend up to $2,450 for monthly mortgage payment. What is the maximum price of a house they can afford to buy?

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