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3.You've been house shopping and aren't sure how big a house you can afford. You figure you can handle monthly mortgage payments of $1,250 and

3.You've been house shopping and aren't sure how big a house you can afford. You figure you can handle monthly mortgage payments of $1,250 and you can get a 30-year loan with an APR of 6.5 percent compounded monthly. How big of a mortgage can you afford? In this problem, you are solving for PV, which is the amount of money you can borrow today

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