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Your best friend can afford to make monthly loan payments of no more than $1,350. If the best rate she can obtain on a mortgage

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Your best friend can afford to make monthly loan payments of no more than $1,350. If the best rate she can obtain on a mortgage is 7.25% (for a 30 year amortization), what is the maximum loan amount she can borrow? a. $214,304.59 b. $186,235.80 c. $18,620.69 d. $197,896.06

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