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Suppose you have an annual salary of $90,000. You plan to save 25% of your monthly salary for the mortgage. The bank charges you an
Suppose you have an annual salary of $90,000. You plan to save 25% of your monthly salary for the mortgage. The bank charges you an interest rate of 8% per year with monthly compounding for a 30-year fixed-rate loan. How much money will the bank loan you?
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