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Albert Tilman wishes to buy a house selling for $120,000. His credit union requires him to make a 15% down payment. The current mortgage rate

Albert Tilman wishes to buy a house selling for

$120,000.

His credit union requires him to make a

15%

down payment. The current mortgage rate is

10.0%.

Find the required down payment and the total monthly payment for a

25-year

loan. (Assume that interest is compounded monthly.)

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