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4. You want to purchase a house that costs $300,000. You have $60,000 to put down on it. Because you have good credit score you
4. You want to purchase a house that costs $300,000. You have $60,000 to put down on it. Because you have good credit score you have been offered a loan of 15 years at 4% or 30 years at 5%. a. How much is your loan? - ANSWER: b. What is your monthly principal and interest payment for the 15-year loan? O PV= O FV= O I= O N= O Pmt = - ANSWER: c. _What is your monthly principal and interest payment for the 30year loan? O PV= OFV= O I= - N= O Pmt= - ANSWER: d. What is the total of the financed payments (the amount you actually pay for the house) with the 15-year loan? - ANSWER: What is the total of the financed payments (the amount you actually pay for the house) with the 30 -year loan
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