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5. You find that the current interest rate for a new home loan is 4.55% for a 30-year loan or 4% for a 15-year loan.

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5. You find that the current interest rate for a new home loan is 4.55% for a 30-year loan or 4% for a 15-year loan. Based on your current income, your bank estimates you can afford a monthly payment of $750. What is the maximum amount you can afford to borrow under each loan type? 15-year loan 30 year loan

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