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a newspaper article, economists. According to are predicting that the average interest rate for a 25-year mortage will decrease from 3.5% to 3.1% during the

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a newspaper article, economists. According to are predicting that the average interest rate for a 25-year mortage will decrease from 3.5% to 3.1% during the next year and home prices will rise by 10% during the same period. A family is considering purchasing a $225,000 home. They intend to make a 25% down payment and finance the rest of the cost, what will their monthly payment be if they buy the house now? Assuming the economist are correct, what will their monthly payment be if they buy a comparable house in one year? If the family buys the house now, the monthly payment will be # (Do not rand intil the final answer, Then round to the nearest cent as needed.)

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