Buy house using a 15-year fixed mortgage. Willing to pay up to $3,000 per month in monthly mortgage payments Borrow 75% of house cost from bank Enough cash on hand to pay the remaining 25% of the house price. Monthly payments will start one month before receiving the loan and Interest 4.8% p/a compounding monthly. highest price I can pay for a house? At this price, what principal is left from the mortgage after 5 years All calculations by hand

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Factors Affecting Housing Decision