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A couple wants to purchase a new house and feel that they can afford a mortgage payment of $ 7 0 0 a month. They
A couple wants to purchase a new house and feel that they can afford a mortgage payment of $ a month. They are able to obtain a year mortgagecompounded monthly but must put down of the cost of the house. Assuming that they have enough savings for the down payment, how expensive a house can they afford?
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The couple can afford a house that costs up to $
Round the final answer to the nearest dollar as needed. Round all intermediate values to six decimal places as needed.
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