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The smiths are shopping for a new home. They've figured that they can afford monthly payments of at most $2200 a month. The bank is
The smiths are shopping for a new home. They've figured that they can afford monthly payments of at most $2200 a month. The bank is offering them a 30 year, $350,000 mortgage with a fixed interest rate of 6% charged on the unpaid balance. Can the smiths afford the monthly payment associated with this loan
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