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2) (3 pts) Sue currently has $35,000 to use as a down payment on a house and can afford to pay $800 per month for a mortgage. If the interest rate on a 30-year mortgage is 6.0% (this is an APR) compounded monthly. What is the highest price house she can afford to purchase today using a 30-year mortgage? Cerec tansuser 133433, 29 +$35,000
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Ans ment 3S7000 stolment of intCY est 6% Compounded mon lhe highest price she can efford to puncase ts Calculated by usng present alue of annuiy pyesent value of orit installments 6 6 133,433.6 .: The higheat price she can effort to putrchohe -to 3500 t 433, 433.6 -163,433.6  

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