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What size mortgage can you afford if you can make a monthly payment of $1,200 per...

What size mortgage can you afford if you can make a monthly payment of $1,200 per month for 30 years? You can borrow at 2.5%, compounded monthly.

PV=

FV=

PMT=

N=

I/Y=

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Answer #1
Particulars (Function) -
Monthly payment PMT $                    1,200
Years - 30
Number of payments in a year - 12
Total number of payments N 360
Interest rate - 2.50%
Monthly interest rate I/Y 0.208%
Future value FV 0
Size of mortgage PV $303,704.51

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