Question: only part one is showing but it is a two part question. You can afford monthly payments of $600. If current mortgage rates are 3.37%

only part one is showing but it is a two part

only part one is showing but it is a two part question.

You can afford monthly payments of $600. If current mortgage rates are 3.37% for a 30-year fixed rate loan, how much can you afford to borrow? If you are required to make a 20% down payment and you have the cash on hand to do it, how expensive home can you afford? (Hint: You will need to solve the loan payment formula for P.) How much can you afford to borrow? $ (Round to the nearest dollar as needed.)

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