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Emma and Pete are planning to buy a house. They intend to take a 15-year mortgage at a 4.5% annual rate of interest, compounded monthly.
Emma and Pete are planning to buy a house. They intend to take a 15-year mortgage at a 4.5% annual rate of interest, compounded monthly. If they are able to afford monthly payments of at most $639, what is the largest amount they could take the mortgage for?
Round your answer to the nearest dollar.
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