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Could you please show how to deal with this problem using Finance Calculator. The next four questions re for $800,000. You have just purchased the

image text in transcribed Could you please show how to deal with this problem using Finance Calculator.

The next four questions re for $800,000. You have just purchased the house and have put a 20% will borrow the remaining amount. The 30-year fixed rate loan has an A ual Percentage Rate (APB) of 4.73%. You will make monthly Ny: payments for the life of the loan. related to your purchase of your first home down payment, ) / 4.73 6. Your effective interest rate is closest to which of the following? A. 4.6305% B. 4.7300% 48339 = 4.8339% D. 4.9305% Y. How much is your monthly payment? A. Less than $1,500 B. $1,500 to $3,0o0 C. $3,00o to $2,500 D. $3,500 to $3,000 More than $3,000 5,665.37 8. Assume that you make payments for one year. How much have you reduced the "principal balance" - that is, the amount that you owe on the loan? Less than $5,000 B $6,000 to $10,00o C. $10,000 to $15,000 D. $15,000 to $20,00 More than $20,000 9. After one year, how much have you paid in interest? . Less than $5,000 B. $5,000 to $10,000 C. $10,000 to $15,000 $15,000 to $20,000 More than $20,000

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