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An engineer wishes to buy a house but can only afford monthly payments of $1500. 30- year...

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Finance

An engineer wishes to buy a house but can only afford monthlypayments of $1500. 30-

year loans are available at 5.75% interest compounded monthly.If the engineer can make

a $20,000 down payment, what is the price of the most expensivehouse that the engineer

can afford to purchase?

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