Suppose you want to purchase a home for ($ 425,000) with a 30 -year mortgage at (5.24
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Suppose you want to purchase a home for \(\$ 425,000\) with a 30 -year mortgage at \(5.24 \%\) interest. Suppose also that you can put down \(25 \%\). What are the monthly payments? What is the total amount paid for principal and interest? What is the amount saved if this home is financed for 15 years instead of for 30 years?
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Lets calculate the monthly payments total amount paid and potential savings for a 15year vs a 30year ...View the full answer
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