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You plan to take out a 15-year fixed-rate mortgage and you want your monthly payments to be $800. The amount of the loan you can

You plan to take out a 15-year fixed-rate mortgage and you want your monthly payments to be $800. The amount of the loan you can afford depends on the interest rate you will have to pay. Let A(r) be the amount of the money you can borrow if the rate is R% per year, compounded monthly. Interpret the given equations, including units.

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