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Market Price of the house you want to buy = $450,000 Downpayment = $50,000 Loan Amount = $400,000 at the conventional mortgage of 30-year monthly
Market Price of the house you want to buy = $450,000 Downpayment = $50,000 Loan Amount = $400,000 at the conventional mortgage of 30-year monthly payment at the fixed annual mortgage interest rate of 6%. 1. What is the monthly payment? Remember to figure out the relevant periodic rate. 2. What should be the ending balance? Please indicate your answer also by showing your spreadsheet. 3. What is the total interest payments and monthly payment after 30 years
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