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Question 1206596: Suppose you can afford to pay at most $1450 per month for a
mortgage payment. If the maximum amortization period you can
get is 25 years, and you must pay 8
What is the monthly interest rate corresponding to the effective
annual rate?
rm =
What is the price of the most expensive house you can buy?
What is the total interest paid?
(you will lose 25
Answer by ikleyn(52775)   (Show Source):
You can put this solution on YOUR website! .
Suppose you can afford to pay at most $1450 per month for a
mortgage payment. If the maximum amortization period you can
get is 25 years, and you must pay 8
What is the monthly interest rate corresponding to the effective
annual rate?
rm =
What is the price of the most expensive house you can buy?
What is the total interest paid?
(you will lose 25
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The post is defective.
Read it attentively, as it appears at the forum, find the defective place,
make necessary corrections, then re-post to the forum.
Please do not post it to me in person.
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