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Anna and Doug are in the market for a new house. The maximum payment they can afford is $800 per month. Of this payment, property
Anna and Doug are in the market for a new house. The maximum payment they can afford is $800 per month. Of this payment, property taxes and homeowner's insurance amount to $240 per month. If the interest rate on the mortage is 4.5% per year, how m uch house can Anna and Doug afford to finanace? The duration of the mortgage loan is 31 years (372 months).
The highest affordable house price is $__ (Round to the nearest dollar)
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