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Dave wants to buy a house. To do so, he must incur a mortgage. A local lender has determined that Dave can afford a monthly

Dave wants to buy a house. To do so, he must incur a mortgage. A local lender has determined that Dave can afford a monthly payment of $600, principal and interest. If the current interest rate on 30-year, fixed rate mortgages is 9.5 percent, what is the maximum amount of mortgage that Dave could qualify for?

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