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2. Down Payment for a $300,000 condo in 3 years: Assume you need a 5% down payment for a FHA loan. Your needed down payment

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2. Down Payment for a $300,000 condo in 3 years: Assume you need a 5% down payment for a FHA loan. Your needed down payment will be (a) Assume that the rate of return you can earn is 2% in your basic savings account, find the following figures: How much would you need to save monthly in order to have a down payment in 36 months? (b) [Show all work]

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