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Suppose you want to purchase a house. Your take-home pay is $2550 per month, and you wish to stay within the

recommended guidelines for mortgage amounts by only spending 1 4 of your take-home pay on a house payment. You have $15,200 saved for a down payment and you can get an APR from your bank of 3.6%, 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.

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