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1. You just purchased a $400,000 house and gave a 10% down payment. For the remaining portion, you obtained a 30-year mortgage at a 5%

1. You just purchased a $400,000 house and gave a 10% down payment. For the remaining portion, you obtained a 30-year mortgage at a 5% interest rate. (3 points)

A) What are the monthly payments on this mortgage? B) If the house appreciates at a 3 percent annually, what will be the value of the house in ten years?

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