What is the maximum price of a house they can afford to buy

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Reference no: EM13953719

Jane and Tom are searching for their first house. They have saved $45,000 for down-payment. Their mortgage company, offering a 30-year 7.2% loan, suggests that they spend up to $1,750 for monthly mortgage payment. What is the maximum price of a house they can afford to buy? Ignore all the transaction costs.

Reference no: EM13953719

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What is the maximum price of a house they can afford to buy : Jane and Tom are searching for their first house. They have saved $45,000 for down-payment. Their mortgage company, offering a 30-year 7.2% loan, suggests that they spend up to $1,750 for monthly mortgage payment. What is the maximum price of a house..

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