Business, 18.10.2021 21:20 thebrain1345

you have just graduated from msu, and have landed a job with a starting salary of $75,000 per year. you have decided to buy a house, and you have $15,000 saved up from your job at the broad college starbucks before it closed. the eighth national bank of dewitt is offering to give you a 30-year mortgage at 8.9% annual interest with monthly payments, but the will not give you a loan that will involve monthly payments of more than 23% of your income. assuming you will borrow as much as you can from this bank, and assuming closing costs of 4% of the amount borrowed, what is the highest price you will be able to pay for the house?

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you have just graduated from msu, and have landed a job with a starting salary of $75,000 per year....