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You want to finance your new home with a 1 5 year fixed rate mortgage. The APR is 4 % . You know the maximum
You want to finance your new home with a year fixed rate mortgage. The APR is
You know the maximum monthly payment you can afford is $ What is the maximum amount of mortgage loan you can take out? Hint: you need to figure which TVM element you need to calculate here
You must round up your answer to integer. For example, if you answer is you must write
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