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Marie has an opportunity to buy a small house from a friend. She will make a 2 5 % down payment and the remaining will

Marie has an opportunity to buy a small house from a friend. She will make a 25% down payment and the remaining will be financed with a mortgage calling for monthly payments over 20 years at 8.5% per annum interest. She is willing to put a maximum of $500 per month towards the mortgage payment. What is the maximum sales price of the lake house that she can afford?
Round to 2 decimal places and no dollar sign.
For example: if the answer is $103.568 then write down 103.57

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