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Tedd E. Bear has an annual salary of $96,000 with no other loans outstanding. Using the 25% guideline from class and with a 20% down

Tedd E. Bear has an annual salary of $96,000 with no other loans outstanding. Using the 25% guideline from class and with a 20% down payment, how expensive of a home can Tedd purchase using a 4%, 30 year mortgage?

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$502,706

$523,653

$547,962

$571,766

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