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4) You are trying to buy a house. The APR on loans right now is 5.5%, compounded monthly. For a 30 year mortgage, the most

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4) You are trying to buy a house. The APR on loans right now is 5.5%, compounded monthly. For a 30 year mortgage, the most you can afford to spend a month is $2,500. What is the maximum amount you can borrow to purchase your house? 5) If the effective annual rate on your credit card is 26.99%, what is the effective daily rate

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