Question: Please solve this using formulas and not excel 28. A buyer can afford no more than $500 per month in payments. The most favorable loan

Please solve this using formulas and not excel

28. A buyer can afford no more than $500 per month in payments. The most favorable loan available in the market is a 30-year loan at 10% (APR compounded semiannually). What is the maximum affordable house with a 10% down payment? (Pick the closest number) A) $55,000 B) $57,959 C) $64,399 D) $65,679 E) 180,000

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