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Anna and Doug are in the market for a new house. The maximum payment they can afford is $700 per month. Of this payment, property

Anna and Doug are in the market for a new house. The maximum payment they can afford is $700 per month. Of this payment, property taxes and homeowner's insurance amount to $220 per month. If the interest rate on the mortgage is 42% per year, how much house can Anna and Doug afford to finance? The duration of the mortgage loan is 35 years (420 months)

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