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What is the maximum price of a house can afford

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Problem 1: Sarah and Mike are getting married in May. They would like to purchase their first home before the wedding. Sarah has an annual income of $72,000 and Mike has an annual income of $40,000. What is the maximum price of a house they can afford?

Problem 2: Kristi and Kirk have a monthly gross income of $6735. What is their maximum monthly mortgage payment?

Reference no: EM132772937

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