You are buying a house for $300,000. The terms of the mortgage include a 30-year loan (fixed rate) and annual interest rate of 4.5%, compounded monthly, and a 20% cash down payment is required. What are your monthly payments on this loan?

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Bunny GreenfelderLv2

6 Mar 2019

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A young engineer wishes to buy a house and can afford monthly loan payments of $1,250. Loans are

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Jerry bought a house for $400,000 and made an $80,000 down payment. The rest of the cost was paid with a 30-year loan. Payments were paid monthly. The nominal annual interest rate was 6% after 10 years he sold the house and paid the remainder of the loan balance.

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