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Felix is purchasing a brownstone townhouse for 2 , 6 0 0 , 0 0 0 . To obtain the mortgage, Felix is required to
Felix is purchasing a brownstone townhouse for To obtain the mortgage, Felix is required to make a down payment. Felix obtains a year mortgage with an interest rate of
a Determine the amount of the required down payment.
b Determine the amount of the mortgage.
c Determine the monthly payment for principal and interest.
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