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 Thursday, September 19, 2024
 Household Math™: How Much House by Scott Bilker
 Scott Bilker is the author of the best-selling books, Talk Your Way Out of Credit Card Debt, Credit Card and Debt Management, and How to be more Credit Card and Debt Smart. He's also the founder of DebtSmart.com. More about Scott Bilker and DebtSmart can be found in the online media kit.

Test your knowledge by trying to solve this DebtSmart, Household Math™ problem! After you complete the problem, you’ll get the solution and explanation.

 1 Sandy finds a bank willing to give her a 30-year, fixed-rate mortgage. They require her to give a 20% down payment on the purchase of her home. The interest rate (APR) is 8.4%, and she must pay 1.5 points, which will be rolled into the mortgage. After property taxes, PMI, etc., Sandy can afford \$1,500 per month on the mortgage payment. What is the maximum price of the home that she can purchase?
 \$212,000 \$222,000 \$232,000 \$242,000 I don't know!

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