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Fei wants to buy a new house, but does not have enough money for the down payment ( DP ) . When she does buy

Fei wants to buy a new house, but does not have enough money for the down payment (DP).
When she does buy a house she will purchase one that costs $250,000. Thus, the amount she
needs to borrow will be $250,000- DP. She will borrow this money for 30 years at an interest
rate of 0.5% per month compounded monthly.
Fei will save $1250 per month starting in one month (period 1) for her down payment. She will
place this money in savings account that earns 0.5% interest each month per month
compounded monthly).
How long will Fei have to save such that her monthly house payment will also be $1250 per
month?
Make sure to draw any cash flow diagrams that you need.
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