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10. Suppose you want a mortgage for $350,000 for 30 years, monthly payments but you cannot currently afford the contract rate of 8.5%. The seller

10. Suppose you want a mortgage for $350,000 for 30 years, monthly payments but you cannot currently afford the contract rate of 8.5%. The seller offers to buy down your contract rate to 5% the first year and 6.5% the second year. What are the payments for the first three years if you do this?

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