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If you are planning to buy a house for $ 2 5 0 , 0 0 0 and you are required to make a down

If you are planning to buy a house for $250,000 and you are required to make a down payment of 20% of this value of the house. First calculate how much money you will need to finance this house. If you borrow this amount from a bank who would charge 6.8% per year for a period of 15 years, calculate how much money you have to pay every month to repay the equal instalment loan. Also, create an amortization schedule showing the beginning balance, monthly payments, interest paid, principal paid and ending balance on a monthly basis for 15 years. Calculate the interest payment from month 60 to 80 months. Calculate the principal repayment for the months 70 to 90.

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