How much can you spend on a house

Reference no: EM133251873

Question - You have been saving for years and have saved $45,000 for a down payment for a house. You can afford a $3,100 mortgage payment every month. How much can you spend on a house if the APR, or stated, interest rate is 6% (compounded monthly) on a 25 year mortgage?

Reference no: EM133251873

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