Mathematics, 09.12.2021 07:30, kadeWayne

Suppose you want to purchase a house. Your take-home pay is $3080 per month, and you wish to stay within the recommended guidelines for mortgage amounts by only spending 1/4 of your take-home pay
on a house payment. You have $16,200 saved for a down payment and you can get an APR from your
bank of 4.25%, compounded monthly. What is the total cost of a house you could afford with a 15-year
mortgage? Round your answer to the nearest cent, if necessary.

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Suppose you want to purchase a house. Your take-home pay is $3080 per month, and you wish to stay...