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Suppose you wish to buy a house costing $4000000. You will put a down payment of 60% of the purchase price and borrow the

Suppose you wish to buy a house costing $4000000. You will put a down payment of 60% of the purchase price and borrow the rest from a bank for 30 years at a fixed annual interest rate r. If you wish your monthly mortgage payment to be $15000 or less, what is the maximum annual interest rate for the mortgage loan?

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