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A young engineer wishes to buy a house but only can afford She has the ability to pay five hundred dollars a month. , Thirty

A young engineer wishes to buy a house but only can afford

She has the ability to pay five hundred dollars a month.

,

Thirty year loans are available at

24 %

interest compounded monthly. If she can make a

5, 000,

what is the price of the most expensive house that she can afford to

purchase?

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