Suppose you want to purchase a house. Your take-home pay is $4020 per month, and you wish to stay within the recommended guidelines for mortgage amounts by only spending 14 of your take-home pay on a house payment. You have $18,000

saved for a down payment and you can get an APR from your bank of 5.4%

, compounded monthly. What is the total cost of a house you could afford with a 30

-year mortgage? Round your answer to the nearest cent, if necessary.

asked by guest
on Mar 30, 2025 at 9:10 pm



Mathbot Says...

I wasn't able to parse your question, but the HE.NET team is hard at work making me smarter.


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