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Stacy can afford an $870 monthly mortgage payment. If the current mortgage rates are 5.6% and she wants a 30-year mortgage, what is the maximum amount she can afford to borrow? …

Stacy can afford an $870 monthly mortgage payment. If the current mortgage rates are 5.6% and she wants a 30-year mortgage, what is the maximum amount she can afford to borrow? …
asked 42.4k views
3 votes
Stacy can afford an $870 monthly mortgage payment. If the current mortgage rates are 5.6% and she wants a 30-year mortgage, what is the maximum amount she can afford to borrow?

A. $288,243

B. $151,547

C. $310,577

D. $312,936

asked
User Xmak
by
7.5k points

1 Answer

5 votes

Answer:

$151,547

Explanation:

Just got it right on a quiz.

answered
User Ibnetariq
by
8.6k points
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