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Mortgage Affordability.Paul will be able to save $162 per month (which can be used for mortgage payments) for the indefinite future. If Paul finances the
Mortgage Affordability.Paul will be able to save $162 per month (which can be used for mortgage payments) for the indefinite future. If Paul finances the remaining cost of a $70 000 home, after making a $14 000 down payment, (amount to finance $56000 ) at a rate of 4 % over 30 years, what are his resulting monthly mortgage payments? Can he afford the mortgage? Paul's resulting monthly mortgage payment is $nothing . (Use your financial calculator and round to the nearest cent.) Can he afford the mortgage?(Select the best answer below.)
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