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2. (2.5 points) Elizabeth wishes to buy a $250,000 house in Lexington, KY. She can afford monthly payments up to $800. Thirty-year loans are available

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2. (2.5 points) Elizabeth wishes to buy a $250,000 house in Lexington, KY. She can afford monthly payments up to $800. Thirty-year loans are available at 3% interest compounded monthly. If she can make a $25000 down payment, calculate what will be her monthly loan payment. Can she afford to purchase the house

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