A family is thinking about buying a new house costing $120,000. The family must pay 20% down,

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A family is thinking about buying a new house costing $120,000. The family must pay 20% down, and the rest is to be amortized over 30 years in equal monthly payments. If money costs 7.5% compounded monthly, what will the monthly payment be? How much total interest will be paid over 30 years?
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College Mathematics for Business Economics Life Sciences and Social Sciences

ISBN: 978-0321614001

12th edition

Authors: Raymond A. Barnett, Michael R. Ziegler, Karl E. Byleen

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