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selling price is 1,800,00 show solutions. 3. Calculate the monthly mortgage payment for the property in Part 1 using the three different scenarios of the

selling price is 1,800,00
show solutions. image text in transcribed
3. Calculate the monthly mortgage payment for the property in Part 1 using the three different scenarios of the downpayment below. Remember to convert the annual interest rate to the effective interest rate. The amortization period is 25 years for all. \begin{tabular}{|l|c|} \hline a) Using the 5-year rate \& a 20\% down payment & A4 \\ \hline b) Using the 5-year rate \& a 25% down payment & A4 \\ \hline c) Using the 5-year rate \& a 30% down payment & A4 \\ \hline Showallyourcalculationsusingtheannuityformulaandtheeffectiveinterestrateconversion. & \\ \hline \end{tabular}

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