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Andre Wheeler wants to know what home price he can afford. His annual gross income is $ 5 5 , 2 0 0 . He

Andre Wheeler wants to know what home price he can afford. His annual gross income is $55,200. He has no other debt expenses and expects property taxes and insurance to cost $420 per month. He knows he can get a 10.00 percent, 15-year mortgage so his mortgage payment factor is 10.75. He expects to make a 25 percent down payment. What is Andre's affordable home purchase price?

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