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Buying a house, Data below Purchase Price $300,000 Loan to value Ratio 85% Interest Rate 12% Term of the loan 30 years monthly payments 1.)

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Buying a house, Data below Purchase Price $300,000 Loan to value Ratio 85% Interest Rate 12% Term of the loan 30 years monthly payments 1.) What is the monthly payment? 2.) What is the amount of interest paid in the first month, what is it the second month? 3.) How much of the loan is paid off after 7 years of payments? 4.) How much interest would you pay over the life of the loan

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