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2. House plan. Given the following data: House price, $350,000; Downpayment, 10%; Saving rate, 8%; Saving time, 2; Loan rate, 4.20%; Loan term, 30 years

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2. House plan. Given the following data: House price, $350,000; Downpayment, 10%; Saving rate, 8%; Saving time, 2; Loan rate, 4.20%; Loan term, 30 years a) Calculate the monthly saving to pay for the down payment, and the amount of the monthly loan payment. b) Explain the plan to your client

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