You want to buy a house and can afford a 15000 down payment, Financial Management

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You want to buy a house and can afford a 15000 down payment

You want to buy a house and can afford a $15,000 down payment and a $1,000 monthly mortgage payment. If 30-year mortgage loans are available for a nominal rate of 3% per year with monthly compounding, what is the most expensive house you can afford?

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Financial Management: You want to buy a house and can afford a 15000 down payment

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Financial Management: You want to buy a house and can afford a 15000 down payment

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