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(a) You want to buy a $350,000 house and you will use a conventional mortgage. What is the minimum amount of down payment you have

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(a) You want to buy a $350,000 house and you will use a conventional mortgage. What is the minimum amount of down payment you have to make to avoid having to purchase mortgage insurance? (b) You purchase a $355,000 house and you pay 20 percent down. You obtain a fixed-rate mortgage where the annual interest rate is 7.85 percent and there are 360 monthly payments. What is the monthly payment

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