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You found a house you want to buy with a price of $299,900. The bank...

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You found a house you want to buy with a price of $299,900. The bank will loan you the money for 15% down at 2.77% APR for 20 years with monthly payments. You think you can make monthly payments of no more than $1,420. Can you afford the house? No; monthly payments = $1,630.43 No; monthly payments - $1,628.92 Yes; monthly payments = $1,384.58

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