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A lakefront house in Kingston, Ontario, is for sale with an asking price of $478,200. The real estate market has been quite active, so the house will almost certainly attract several offers, and may sell for more than the asking price. Charlie is very eager to purchase this house, but is concerned that he may not be able to afford it. He has $142,700 available for a down payment, and can pay up to $1,940 per month on a mortgage loan. As Charlie is a long-time customer, his bank has offered him a great mortgage rate of 3.7 percent on a one-year term. If the loan will be amortized over 21 years.
What is the most that Charlie can afford to pay for the house?
Finance is about Gunns Ltd, a company in dealing with forestry products in Australia. The company has also been listed in Australian Stock Exchange. As many companies producing forestry products, even Gunns Ltd is facing various problems. Due to the ..
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