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The Johnsons have accumulated a nest egg of $50,000 that they intend to use as a down payment toward the purchase of a new house. Because their present gross income has placed them in a relatively high tax bracket, they have decided to invest a minimum of $2900/month in monthly payments (to take advantage of the tax deduction) toward the purchase of their house. However, because of other financial obligations, their monthly payments should not exceed $3500. If local mortgage rates are 2.5%/year compounded monthly for a conventional 30-year mortgage, what is the price range of houses that they should consider? (Round your answers to the nearest cent.)
Least expensive $
Most expensive $
Acquisition by a foreign company and the effects of that decision and the results of foreign exchange in Euro and the exchange rate differences.
In this essay, we are going to discuss the issues of financial management in a non-profit organisation.
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