You want to buy a house. You have $50,000 saved for the down payment and can pay $2,000 per month on the mortgage. The 30-year mortgage interest rate is 9% per year (equal to 0.75% per month). What is the most expensive house that you can afford?Group of answer choicesLess that $200,000A little less than $300,000As least $400,000Not enough information is given

Answer rating: 100% (QA)

To find the most expensive house you can afford lets break this problem down into steps that involve ... View the full answer