Duane Miller wants to know what price home he can afford. His annual gross income...
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Duane Miller wants to know what price home he can afford. His annual gross income is $57,600. He has no other debt expenses and expects property taxes and insurance to cost $370 per month. He knows he can get a 7.50%, 15 year mortgage so his mortgage payment factor is 9.27. Ho expects to make a 25% down payment. What is Duane's affordable home purchase price? (Round your answer to the nearest whole dollar.) Multiple Choice $174,613 5154027 5195.485 5224959 $123.749
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