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You want to buy a house financed with a 30-year fixed-rate mortgage. The best interest rate you are quoted is 6%. You can afford up

You want to buy a house financed with a 30-year fixed-rate mortgage. The best interest rate you are quoted is 6%. You can afford up to $1,480 per month of repayment.

Attempt 2/3 for 6.7 pts.

Part 1

What is the maximum mortgage amount you can afford to borrow?

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