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4 A mortgage of $300,000 is to be repaid over a 25 year period at a fixed annual interest rate of 4.5%. Calculate the monthly

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4 A mortgage of $300,000 is to be repaid over a 25 year period at a fixed annual interest rate of 4.5%. Calculate the monthly repayments. Now suppose the potential purchaser of the mortgage can afford a monthly payment of $1,000. Determine the value of the house, that is the value of the mortgage, this potential buyer could afford

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