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Jenny has decided that she can afford a monthly mortgage payment of $390. She has been offered a 3.5% 20 year mortgage from her bank.

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Jenny has decided that she can afford a monthly mortgage payment of $390. She has been offered a 3.5% 20 year mortgage from her bank. What formula could you type into Excel to determine what the largest mortgage loan she can afford? =PV(035/12, 20*12,-390) PMT(.035/12, 20*12, -390) =PV(035, 20*12,-390) 390 035/20

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