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Question 20 (2 points) Chen has been prequalified by his bank to take out a mortgage with a $1,800 monthly payment. Current interest rates are

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Question 20 (2 points) Chen has been prequalified by his bank to take out a mortgage with a $1,800 monthly payment. Current interest rates are 4% for a 20-year fixed closed mortgage with a 5-year term. Interest is compounded semi-annually. The bank has agreed to finance 90% of the price of the home. What is the maximum price of home that Chen can afford to buy

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