26-01-2024
Mathematics

Answered

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You want to buy a $343,000 home. You plan to pay 10% as a down payment, and take out a 30 year loan for the rest. (Enter numeric answers to 2 decimal places.)

a) How much is the loan amount going to be?

$

b) What will your monthly payments be if the annual interest rate is 4.5%, compounded monthly?

$

c) What will your monthly payments be if the annual interest rate is 5.5%, compounded monthly?

Answer :

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