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You have just graduated from MSU, and have landed a job with a starting salary of $ 7 5 , 0 0 0 per year.
You have just graduated from MSU, and have landed a job with a starting salary of $ per year. You have decided to buy a house, and you have $ saved up from your parttime job at Qdoba. The Eighth National Bank of DeWitt is offering to give you a year mortgage at annual interest with monthly payments, but they will not give you a loan that will involve monthly payments of more than of your monthly income. Assuming you will borrow as much as you can from this bank, and assuming closing costs of what is the highest price you will be able to pay for the house?
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