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ou want to buy a $ 2 2 4 , 0 0 0 home. You plan to pay 1 5 % as a down payment,

ou want to buy a $224,000 home. You plan to pay 15% as a down payment, and take out a 20 year loan for the rest.
a) How much is the loan amount going to be?
b) What will your monthly payments be if the interest rate is 6%?
c)c) What will your monthly payments be if the interest rate is 7%?

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