SOLUTION: Over the past 40+ years, interest rates have varied widely. The rate for a 30-year mortgage reached a high of 14.75% in July 1984, and it reached 4.64% in October 2010. A signifi

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Question 1153722: Over the past 40+ years, interest rates have varied widely.
The rate for a 30-year mortgage reached a high of 14.75% in July 1984, and
it reached 4.64% in October 2010. A significant impact of lower interest
rates on society is that they enable more people to afford the purchase of a
home. Suppose we want to purchase a home that costs $385,000, and that
our annual income is $138,000, and we have no other debt.
Answer by ikleyn(52781) About Me  (Show Source):
You can put this solution on YOUR website!
.

You re-told this intriguing story so enthusiastically, that forgot to attach your question.

Thanks for this post, anyway (!)