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Question
Michelle Duncan wants to know what price home she can afford. Her annual gross income is $45,000. She owes $750 per month on other debts and expects her property taxes and homeowners insurance to cost $250 per month. She knows she can get a 7.5%, 30 year mortgage so her mortgage payment factor is 6.99. She expects to make a 20% down payment. What is Michelle's affordable home purchase price? Round your answer to the nearest $100.A. $76,000
B. $60,800
C. $304,000
D. $42,500
E. $254,800
Answer
This answer is hidden. It contains 168 characters.
Related questions
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