The mortgage that the family could afford is $2,934.75.
What is mortgage?
A mortgage is an agreement between you and a lender that gives the lender the right to take your property if you fail to repay the money you've borrowed plus interest.
i = 0.0425 x $1290 x 30
i = $1,644.75
Total amount to be paid
= $1290 + $1,644.75
= $2,934.75
Thus, the mortgage that the family could afford is $2,934.75.
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