Alice wants to take out a 20-year mortgage. If the interest is calculated at 8% compounded semi-anually, and alice can afford monthly payments of $850 per month, what is the largest mortage amount that alice can afford?

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- Jul 27th 2012, 08:52 AMhoops232mortgage question!
Alice wants to take out a 20-year mortgage. If the interest is calculated at 8% compounded semi-anually, and alice can afford monthly payments of $850 per month, what is the largest mortage amount that alice can afford?

- Jul 27th 2012, 09:17 AMHallsofIvyRe: mortgage question!
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