Question: & 0/2 POINTS PREVIOUS ANSWERS TANFIN12 5.2.027 MY NOTES | ASK YOUR TEACHER The Johnsons have accumulated a nest egg of $40,000 that they intend

& 0/2 POINTS PREVIOUS ANSWERS TANFIN12 5.2.027 MY NOTES | ASK YOUR TEACHER The Johnsons have accumulated a nest egg of $40,000 that they intend to use as a down payment toward the purchase of a new house. Because their present gross income has placed them in a relatively high tax bracket, they have decided to invest a minimum of 2700/month in monthly payments to take advantage of the tax deduction) toward the purchase of their house. However, because of other financialogations, the monthly payments should not 3 00. If local mortgage rates are 3.5/year compounded monthly for a conventional 30 year mortgage what is the price range of houses that they sh o und your answers to the nearest )

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