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Jack and Jill have saved $75,000 towards a home purchase. They estimate that acquisition costs would equal $15,000. If they wish to avoid the requirement

Jack and Jill have saved $75,000 towards a home purchase. They estimate that acquisition costs would equal $15,000. If they wish to avoid the requirement for default insurance on their mortgage, what is the most expensive home they could purchase?

a. $375,000

b. $330,000

c.$360,000

d. $300,000

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