Question: Question 39 (2 points) A young couple decide to take advantage the current first-time home buyer credit and buy a new house. With their combined

Question 39 (2 points) A young couple decide to take advantage

Question 39 (2 points) A young couple decide to take advantage the current first-time home buyer credit and buy a new house. With their combined income, they can afford to make a maximum of $500 monthly payment. With their credit history, they can borrow a 30- year fixed rate mortgage loan at 6.4% (mortgage loans compound monthly). What's the maximum amount they can borrow

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