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The Johnsons have accumulated a nest egg of $18,000 that they intend to use as a down payment toward the purchase of a new house.
The Johnsons have accumulated a nest egg of $18,000 that they intend to use as a down payment toward the purchase of a new house. Because their present groot income has placed them in relatively high tax bracket, they have decided to invest a minimum of $1000/month in monthly payments to take advantage of the tax deduction) toward the purchase of their house. However, because of other financial obligations, their monthly payments should not exceed 1300. Ir local mortgage rates are 8,5W your compounded monthly for a conventional mortgage, what is the price range of houses they should consider? (Round your answers to the nearest cont.) least expensive 5 X most expensive x Need Help? Net
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