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13. A person purchases a $2,000,000 home in Miracle Mile. She puts down 40% of the purchase price. If the person obtains a jumbo loan
13. A person purchases a $2,000,000 home in Miracle Mile. She puts down 40% of the purchase price. If the person obtains a jumbo loan rate of 8%, what is the monthly payment for a 30 year fixed rate mortgage on the purchase? Please break down your reasoning
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