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Kimberly is looking to buy a home in California. The most he can afford to pay...

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Finance

Kimberly is looking to buy a home in California. The most he canafford to pay in total is $2,000 per month. Yearly property taxeswill be about $3,600 (escrowed monthly) and insurance is $120 permonth. There are no other costs. If his parents give him $20,000for a down payment, what is the most he can pay for a house with a15-year mortgage if the interest rate is 5.60 percent?

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Kimberly is looking to buy a home in California. The most he canafford to pay in total is $2,000 per month. Yearly property taxeswill be about $3,600 (escrowed monthly) and insurance is $120 permonth. There are no other costs. If his parents give him $20,000for a down payment, what is the most he can pay for a house with a15-year mortgage if the interest rate is 5.60 percent?

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