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The Clarke family is buying a home and will select a mortgage with a 2 5 - year amortization period, at a rate of 6
The Clarke family is buying a home and will select a mortgage with a year amortization period, at a rate of compounded semiannually for a year term. The monthly mortgage payment will be their only debt payment. The family's gross monthly income is $ Property taxes are estimated at $ per month, and heating costs at $ per month. The bank has upper limits of for GDS and for TDS What is the maximum mortgage for which the Clarkes qualify? Round your final answer to the nearest dollar.Maximum mortgage$::
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