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ensure that both the calculations and the formulas used are clearly presented Raees has found a house he would like to purchase, with an asking

ensure that both the calculations and the formulas used are clearly presented
Raees has found a house he would like to purchase, with an asking price is $500,000. He has cash savings of $60,000 to put towards his down payment. He also plans to sell his existing property for $335,000 and use the net proceeds of the sale, after paying his mortgage of $100,000 and the realtors fees of 6%, as part of his down payment for the new house. Howmuch of a mortgage will Raees require?

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