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. Harriet Marcus is concerned about the financing of a home. She saw a small cottage that sells for $75,000. Assuming that she puts 20%
Harriet Marcus is concerned about the financing of a home. She saw a small cottage that sells for $75,000. Assuming that she puts 20% down, what will be her monthly payment and the total cost of interest over the cost of the loan for each assumption? (Use the Table 15.1) Note: Do not round intermediate calculations. Round your answers to the nearest cent. Monthly payment Total cost of interest a. 25 Years, 5.00% b. 25 Years, 5.50% c. 25 Years, 5.75% d. 25 Years, 6.00% e. What is the savings in interest cost between 5.00% and 6.00%? Note: Round your answer to the nearest dollar amount. Interest cost
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