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Mortgage rates have been the lowest in over 45 years. Knowing this information, it is...

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Accounting

Mortgage rates have been the lowest in over 45 years. Knowing this information, it is now time to take advantage of such rates and buy a house. If your bank rate is 4.96% per year, and desire your monthly payment to be no more than $1,038.29. How much value of home can you afford based on a 30-year term loan? (Use monthly compounding)

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