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How much can you borrow on a 20-year fixed-rate mortgage

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You have decided to buy a house. You can get a mortgage rate of 5.4 percent, and you want your payments to be $1,225 or less. How much can you borrow on a 20-year fixed-rate mortgage? (Do not round intermediate calculations. Round your answer to 2 decimal places.)

Reference no: EM132505853

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