The income of a typical family in a certain city is currently $58,824 per year. Family finance
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The income of a typical family in a certain city is currently $58,824 per year. Family finance experts recommend that mortgage payments not exceed 25% of a family’s monthly income. Assuming a current mortgage interest rate of 4.2% compounded monthly for a 30-year mortgage with monthly payments, how large a mortgage can the typical family in that city afford?
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Related Book For 
Finite Mathematics And Its Applications
ISBN: 9780137616619
13th Edition
Authors: Larry J. Goldstein, David I. Schneider, Martha J. Siegel , Jill Simmons
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