What is the maximum price of a home

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What is the maximum price of a home you can afford if your maximum monthly payment is $1,287.43, in a traditional 30 year mortgage with a fixed 2.535% APR compounded monthly? Use the appropriate amortization formula.

What is the maximum price of a home you can afford if your maximum monthly payment is $1,287.43, in a traditional 15 year mortgage with a fixed 2.001% APR compounded monthly?

Use the appropriate amortization formula.

Reference no: EM133003139

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