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Miranda decides to downsize after retiring from teaching. Miranda knows that she can afford a monthly payment of $800.00. She sees that her bank is
Miranda decides to downsize after retiring from teaching. Miranda knows that she can afford a monthly payment of $800.00. She sees that her bank is offering loans compounded monthly with 9 % and 10 % interest rates, both for 30 years. Answer the questions. Round answers to 2 decimal places. a) How much can she borrow with the 9 % interest rate loan? Total loan: $ a) How much can she borrow with the 10 % interest rate loan? Total loan: $
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