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After completing a budget you have determined that you can afford to make monthly payments of $2084 on a home loan. If the interest rate
After completing a budget you have determined that you can afford to make monthly payments of $2084 on a home loan. If the interest rate is 8.6% per annum and you wish to pay off your loan over 25 years, what is the maximum you can borrow? (The allowed rounding error for this question is within 1%. Please round your answer to the nearest dollar but exclude $ and , when typing your answer.)
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