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Assume you purchased a house on January 1 , 2 0 2 0 for $ 2 0 0 , 0 0 0 . You had

Assume you purchased a house on January

1, 2020

for $

200, 000 .

You had made a down payment of

20 %

on the house and the balance was financed with a

30

year loan at

5 %

per annum stated APR with monthly payments to be made beginning January

1, 2020 .

What are your monthly payments?

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