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A young businessperson wishes to buy a house but can afford monthly payments of only $500. Thirty-year loans are available at 6% interest compounded monthly.

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A young businessperson wishes to buy a house but can afford monthly payments of only $500. Thirty-year loans are available at 6% interest compounded monthly. If she can make a $5000 down payment, what is the price of the most expensive house that she can afford to purchase? Select one: a. 30785.52 b. 88395.81 c. 250000 d. 83395.81 e. 10018.28

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