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Assume you purchased a home valued at $310,500. You are able to make a down payment of 10% of the purchase price. You financed the

Assume you purchased a home valued at $310,500. You are able to make a down payment of 10% of the purchase price. You financed the remaining portion with a loan at 3.9% interest for 25 years. Determine the monthly house payment necessary to amortize (pay off) the loan

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