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Given the following information, calculate the cash down payment (equity) required to purchase the specific property: purchase price: $500,000; loan amount: 75% of purchase price;

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Given the following information, calculate the cash down payment (equity) required to purchase the specific property: purchase price: $500,000; loan amount: 75% of purchase price; up-front financing costs: 2.5% of loan amount. Please do not use a dollar sign and enter number as an absolute value (positive number). You can round to the nearest whole number or include the pennies (your choice). Your

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