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Suppose your gross monthly income is $ 5 , 5 0 0 and your current monthly payments are $ 4 2 5 . If the

Suppose your gross monthly income is $5,500 and your current monthly payments are $425. If the bank will allow you to pay up to 36% of gross monthly income (less current monthly payments) for a monthly house payment, what is the maximum loan you can obtain if the rate for a 30-year mortgage is 4.65%?(Round your answer to the nearest cent.)

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