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A buyer can afford no more than $500 per month in payments. The most favorable loan available in the market is a 30-year loan at

A buyer can afford no more than $500 per month in payments. The most favorable loan available in the market is a 30-year loan at 10% (APR compounded semiannually). What is the maximum affordable house with a 10% down payment? (Pick the closest number)

a. $55,000

b. $57,959

c. $64,399

d. $65,679

e. $180,000

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