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(7) Let's suppose that we are looking to buy a house, and our monthly take-home pay is $5200. We plan on following normal financial practices

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(7) Let's suppose that we are looking to buy a house, and our monthly take-home pay is $5200. We plan on following normal financial practices of using 25% of our that for our house payments. We also have $15000 saved up for a down payment. Assuming that we are able to find a 30 year mortgage with an APR of 4%, what is the maximum price for a home that we can reasonably afford? (a) $790.679.65 (b) $257,299.61 (c) $287,299.61 (d) $272,299.61

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