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5. In the spring of 2022, you and your family were looking for the house of your dreams. Given your household income and your expenses,

5. In the spring of 2022, you and your family were looking for the house of your dreams. Given your household income and your expenses, you determined that you could afford to pay $1,250 for a monthly house payment. As of February 2022, it looked like you could get a 30-year mortgage rate of 3.20%. a) Given the above information, what is the maximum amount you could finance for your dream home?

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