Question
You want to buy house and go the bank for a loan. You tell the bank that you can afford a $36,000 payment each year.
You want to buy house and go the bank for a loan. You tell the bank that you can afford a $36,000 payment each year. The bank is willing to give you 30 year mortgage and will charges 4% per year. What is the maximum amount you can pay for the house?
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Foundations of Financial Management
Authors: Stanley Block, Geoffrey Hirt, Bartley Danielsen, Doug Short, Michael Perretta
10th Canadian edition
1259261018, 1259261015, 978-1259024979
