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You earn $4000 per month. To qualify for a mortgage, your monthly mortgage payments should not exceed 40% of your monthly income. What is the

You earn $4000 per month. To qualify for a mortgage, your monthly mortgage payments should not exceed 40% of your monthly income. What is the value of the most expensive house you can buy if you obtain a 25-year mortgage at an interest rate of 5% per annum

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