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A real estate agent has a client who is purchasing a house for $450,000. They want to give the client options on how changes in
A real estate agent has a client who is purchasing a house for $450,000. They want to give the client options on how changes in interest rate and down payment affect monthly cost. The purchaser wants a 30-year loan (360 payments). If they cannot afford 20% down, they have to pay $100 per month for mortgage insurance. Attach a What-If contingency table that looks at two variables (down payment = 20% down or 0% down) and (interest rate (APR) = 2%, 2.5%, 3.0%, 3.5%. and 4.0%).
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