Question: A home shopper has saved a $50,000 down payment, and can afford a monthly payment (principal and interest) of $2,000. Ignoring property taxes and insurance

A home "shopper" has saved a $50,000 down payment, and can afford a monthly payment (principal and interest) of $2,000. Ignoring property taxes and insurance (which the lender will also require!), in a market with 30-year loans at 4% PER YEAR, and monthly payments, what is the highest-priced home (to the nearest '000, this shopper can afford?

Group of answer choices

$469,000

$719,000

$419,000

$569,000

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