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If you were going to buy your home from Mrs. Beach for $250,000 with a 10% down payment and 20 year mortgage at a 5%

If you were going to buy your home from Mrs. Beach for $250,000 with a 10% down payment and 20 year mortgage at a 5% interest rate.

How much would your payments be each month?

What would be the principal and interest payment on the first payment?

What would be the principal and interest payment on the twelfth payment?

What type of a problem is this? ___________

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