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Show work and formulas used Say that you purchase a house for $150,000 by getting a mortgage for $135,000 and paying a $15,000 down payment.

Show work and formulas used

Say that you purchase a house for $150,000 by getting a mortgage for $135,000 and paying a $15,000 down payment. If you get a 15-year mortgage with a 6% interest rate, what are the monthly payments? Answer =

A perpetuity pays $100 per year and interest rates are 6.5 percent. How much would its value change if interest rates increased to 9 percent? Answer =

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