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Down payment on a new home

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The McBertys have $40,000 in savings to use as a down payment on a new home. They also have determined that they can afford between $1,500 and $2,000 per month for mortgage payments. If the mortgage rates are 11% per year compounded monthly, what is the price range for houses they should consider for a 30-year loan? (Enter solutions from smallest to largest. Round your answers to the nearest cent.)

Reference no: EM131035728

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