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A couple wants to buy a house and can afford to pay $1700 per month. a. If they can get a loan for 30 years
A couple wants to buy a house and can afford to pay $1700 per month.
a. If they can get a loan for 30 years with interest at 6% per year on the unpaid balance and make monthly payments, how much can they pay for a house?
b. What is the total amount paid over the life of the loan?
c. What is the total interest paid on the loan?
Round all answers to the nearest cent.
A couple wants to buy a house and can afford to pay $1700 per month. a. If they can get a loan for 30 years with interest at 6% per year on the unpaid balance and make monthly payments, how much can they pay for a house? b. What is the total amount paid over the life of the loan? c. What is the total interest paid on the loan? a. They can pay $ for a house. (Simplify your answer. Round to the nearest cent as needed.) b. The total amount paid over the life of the loan is $ (Simplify your answer. Round to the nearest cent as needed.) c. The total interest paid on the loan is $ (Simplify your answer. Round to the nearest cent as needed.)Step by Step Solution
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