What is the price of most expensive house that he can afford, Risk Management

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What is the price of most expensive house that he can afford

Problem

Mrs Sy wishes to buy a house but only can afford monthly payments of $500. Thirty-year loans are available at 6% interest compounded monthly. If she can make a $5,000 down payment, what is the price of the most expensive house that he can afford to purchase?

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Risk Management: What is the price of most expensive house that he can afford

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Risk Management: What is the price of most expensive house that he can afford

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