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
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