You currently have $40,000 saved up to buy a house.  Your annual salary is $60,000, and your banker tells you the maximum amount they will loan you for a 30-year mortgage is an amount that makes your monthly payment 30% of your monthly salary.  If the current interest rate is 0.4% per month, what is the most you can offer on a house?

 

	$325,897
	$285,897
	$327,040
	None of the choices are correct
	$287,040

Answer rating: 100% (QA)

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