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Business, 22.05.2020 05:59 brandiwingard

This year a single person pays $4,000 in state income taxes and gives another $1,000 to charity. Assume that, if the decision to buy a home is made, the property taxes would be $4,000 per year. Assume also that current mortgage loans are issued at 5% fixed for 30 years. To completely use up the federal standard deduction of $12,000, this individual would need to borrow a minimum of $ to buy a home. Making the further assumption that the home loan would require 5% down, the implied minimum target home price would be $

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