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You qualify for a home loan of $350,000 at 7% interest with a 30-year term. Payments on the loan are made monthly. You have savings

You qualify for a home loan of $350,000 at 7% interest with a 30-year term. Payments on the loan are made monthly. You have savings of $42,000 and would like to pay this amount as a down payment.

1.How much "home" can you afford?

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