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21.) You are deciding to purchase a new condo for $250,000. You plan to pay $50,000 down immediately and need to borrow the rest from
21.) You are deciding to purchase a new condo for $250,000. You plan to pay $50,000 down immediately and need to borrow the rest from your bank with quotedfstated interest rate of 3.6% (stated as APRIZ , annual rate expr. with monthly comp. freq.) (3) For a 15-year xed-rate loan, what are your monthly mortgage payments? (b) After making payments for 10 years, what is your outstanding loan balance ? E.g., what's the lump sum amount you'd have to make to pay-off the loan
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