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You want to buy a house and have saved $20,000 to use as a downpayment. You can afford a monthly payment of $750. If the

You want to buy a house and have saved $20,000 to use as a downpayment. You can afford a monthly payment of $750. If the nominal interest rate on a 30 year loan is 6% and the nominal interest rate on a 15 year loan is 4%. How much can you pay for a house with a 30 year loan? How much can you pay for a house with a 15 year loan?

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