Question: (b) If you could put that mortgage payment amount from part (a) towards purchasing a house, and you were approved for a 30-year fixed rate

(b) If you could put that mortgage payment amount from part (a) towards purchasing a house, and you were approved for a 30-year fixed rate mortgage with a rate of 8%, then how much mortgage loan could you afford (the amount the bank loans you for the house) if we assume no deposit is put down for the house

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