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a ) If you need to borrow $ 2 0 0 , 0 0 0 with a 3 0 - year fixed - rate mortgage

a) If you need to borrow $200,000 with a 30-year fixed-rate mortgage at 5.5% to purchase
a home, how much would your monthy payment be?
b) If you could afford a monthly payment of $1500, with the same terms as in part a, how much
would you be able to borrow ?

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