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The ongoing mortgage rate for a 30YR fixed installment is about 3.168% APR. We'll use this rate. Note also that mortgage payments are made every

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The ongoing mortgage rate for a 30YR fixed installment is about 3.168% APR. We'll use this rate. Note also that mortgage payments are made every month (i.e., 12 times a year). Given your answer in part a, what is the amount you can borrow under these loan terms? HINT: Solve for PV using your mortgage payments. (Answer for a = 300k)

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