Disposable monthly income

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An engineering graduate plans to buy a home. She has been advised that her monthly house and property tax payment should not exceed 35% of her disposable monthly income. After researching the market, she determines she can obtain a 30 year home loan for 6.95% annual interest per year, compounded monthly. Her monthly property tax payment will be approximately $150. What is the max amount she can par for a house if her disposable monthly income is $2000?

Reference no: EM131219621

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