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Assume your monthly income is $4,500 and you have recurring debts of $500 per month. Property tax and insurance are estimated at $320 per month.
- Assume your monthly income is $4,500 and you have recurring debts of $500 per month. Property tax and insurance are estimated at $320 per month. If you want to buy a house by making 20% down payment and the interest rate on a 30 year mortgage is 6%, what is the value of the home you can afford? Show all steps clearly and solve.
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Fundamentals Of Financial Management
Authors: Eugene F. Brigham, Joel F. Houston
16th Edition
0357517571, 978-0357517574
