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QUESTION 6 Andre recently closed the deal on the purchase of a home. He was awarded a loan for $130,000 at a fixed APR of
QUESTION 6 Andre recently closed the deal on the purchase of a home. He was awarded a loan for $130,000 at a fixed APR of 3.2% to be financed over 30 years. Assuming he will put down 15%, consider the following amortization schedule set up (Figure 2): Monthly Payment Interest Paid Principal Paid Payment No. 0 1 Remaining Balance A E B D (Figure 2) In the schedule above, what should the value of Ebe? A. $118,022.12 B. $105,889 C. $129,816.70 D. $110,316.79
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