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Juan and Teresa have just purchased their first home. They made a down payment of $90,000 and signed a 25-year fixed rate mortgage requiring payments
Juan and Teresa have just purchased their first home. They made a down payment of $90,000 and signed a 25-year fixed rate mortgage requiring payments of $3,458.45, payable on the first of every month. Interest on the mortgage is 4.95% compounded semi-annually. What was the cash price of the property
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