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A young couple are purchasing a house for $450,000. Their bank requires them to pay a down payment of 20%. The current mortgage rate is
A young couple are purchasing a house for $450,000. Their bank requires them to pay a down payment of 20%. The current mortgage rate is 10%, and they are required to pay 1 point at the time of closing. Determine the total amount they will pay for their house, including principal, interest, down payment, and points if the length of their mortgage is: 10 years
20 years
30 years
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