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You are going to refinance the mortgage on your home. You want a fixed-rate fully amortizing loan with a term of 15 years. Your monthly
You are going to refinance the mortgage on your home. You want a fixed-rate fully amortizing loan with a term of 15 years. Your monthly payment cannot be more than $1,346 and the current interest rate is 4.37%. What is the maximum amount you can borrow?
Solved using excel.
Answer should be formatted as a dollar amount rounded to the nearest cent.
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