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Purchase Price = 980,000 Loan Terms: 7.125% Interest, 25% Down Payment Income: $8650/month Expenses: $3100/Month Payment: 5153.02 Find the length of the loan, and the

Purchase Price = 980,000

Loan Terms: 7.125% Interest, 25% Down Payment

Income: $8650/month

Expenses: $3100/Month

Payment: 5153.02

Find the length of the loan, and the amount of principal paid on your 100th payment.

How much would it shorten the loan if you added an extra $100 to each payment?

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