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Posted on Jun 27, 2024

Jen and Jack purchased a building for offices and made a %25,000 down payment. They financed the balance of $225,900 for 20 years @ 8%.

a). Find the total monthly payment if given taxes are $5938 and insurance is $3638 per year?

b). Assume that insurance and taxes do not increase, find the total cost of owning the building for 20 years (including down payment)

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