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Consider a homebuyer / investor who plans to buy a new house, the price of which is $ 5 0 0 , 0 0 0
Consider a homebuyerinvestor who plans to buy a new house, the price of which is $ Suppose the buyer does not have any initial savings for the down payment. To buy the house, he needs to borrow $ from the bank in the form of a mortgage loan. The mortgage is a year fixed rate mortgage. After buying the house, the buyer budget is $ per year. That is if the mortgage asks him to repay more than $ per year, then he cannot afford it and would choose not to buy this house. Derive the investment of this buyer as a function of interest rate r
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