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1. You are planning to buy a house in New Jersey. You put a 20% down payment, and 15-year mortgage rates are at 4.2% -Price

1. You are planning to buy a house in New Jersey. You put a 20% down payment, and 15-year mortgage rates are at 4.2% -Price of the house is $400,000. Calculate the monthly payments. Calculate the 1st month interest payment. Calculate the 1st month principal payments

2. Determine the present value of the mixed stream of cash flows using a 6% discount rate. CF2 $800 CF3 $1200 CF4 $1600 CF5 $1900

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