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What is the maximum amount that Mateo could borrow

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Question - Mateo wants to borrow money to buy a house. He can afford $1,250 monthly for the mortgage (principle and interest). He found a bank that offered him 2.75% interest on a 30-year loan. What is the maximum amount that Mateo could borrow? For this one, round to the nearest hundred.

Reference no: EM133056383

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