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Estimate the affordable monthly mortgage payment, the affordable mortgage amount, and the affordable home purchase price for the following situation. Use Exhibit 7-6, Exhibit

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Estimate the affordable monthly mortgage payment, the affordable mortgage amount, and the affordable home purchase price for the following situation. Use Exhibit 7-6, Exhibit 7-7. (Round your intermediate and final answers to the nearest whole dollar.) Monthly gross income Other debt (monthly payment) 25-year loan at $ 3,050 $ 170 Down payment to be made (percent of purchase price) Monthly estimate for property taxes and insurance 7 percent 20 percent $ 220 Affordable monthly mortgage payment Affordable mortgage amount Affordable home purchase

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