A young graduate is saving for house on lake hartwell the, Ask an Expert

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A young graduate is saving for house on Lake Hartwell. The young graduate is planning on saving $1, 291.00 each quarter for 12.00 years in an investment account paying 7.96% interest that is compounded quarterly. His first deposit will be made at the end of the next quarter, so this is a regular annually, in 12.00 years, he also plans on being to afford a 15-year mortgage with $1, 550.00 monthly payments at a 6.48% APR interest rate. Given the graduate's plans, how expensive of a lake house will he expect to be able to purchase? (assume that the house price will be the value of the savings and the loan)

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Financial Management, Finance

Category:- Financial Management
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