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14.) A homebuyer purchases a home for $475,000 and makes a 20% down payment. If the mortgage is a 30-year fixed-rate mortgage at 5%,
14.) A homebuyer purchases a home for $475,000 and makes a 20% down payment. If the mortgage is a 30-year fixed-rate mortgage at 5%, find (a) the down payment, (b) the mortgage amount, (c) the monthly payment.
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