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A home is purchased for $206300. The homeowner pays $41260 down and finances the balance for 25 years at 6.5% compounded monthly. a. Find the
A home is purchased for $206300. The homeowner pays $41260 down and finances the balance for 25 years at 6.5% compounded monthly. a. Find the size of the payments rounded up to the next cent. b. How much of the first payment is interest? c. How much is still owed on the loan just after 140 payments. d. What is the owner's equity after 140 payments? e. How much is owed just before the 140 payment is actually made?
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