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Problem 1 I When buying a $180,000 house in Harrisburg, Ariana made a down payment of $40,000 and took a loan out for the
Problem 1 I When buying a $180,000 house in Harrisburg, Ariana made a down payment of $40,000 and took a loan out for the remainder $140,000. The loan has a 30-year term with monthly payments and an annual rate of 10.8%. a) What is the monthly payment? b) What is the total payment over the 30 years? c) How much interest will be paid on the loan? d) What is the balance of the loan after 10 years?
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