Question: Question 17 (5 points) Dick and Jane are getting ready to purchase a new home. They are looking to take out a 30 year loan

Question 17 (5 points) Dick and Jane are getting ready to

Question 17 (5 points) Dick and Jane are getting ready to purchase a new home. They are looking to take out a 30 year loan and know the current rate is 3.75%. If they can afford to pay $1100 monthly payments (ignoring other costs), then how much money can they borrow for the home purchase? Round your answer to the nearest dollar

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