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Loan payment formula

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You can afford monthly payments of ?$600. If current mortgage rates are 2.16?% for a 15?-year fixed rate? loan, how much can you afford to? borrow? If you are required to make a 10?% down payment and you have the cash on hand to do? it, how expensive a home can you? afford? (Hint: You will need to solve the loan payment formula for? P.)

How much can you afford to? borrow?

Reference no: EM131880535

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