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Solve with the Finance/tvm solver 15) The Olson's want to purchase a house. They can afford $775 a month for 20 years and a $15,000
Solve with the Finance/tvm solver
15) The Olson's want to purchase a house. They can afford $775 a month for 20 years and a $15,000 down payment. They finance the loan with an APR of 4.23% mortgage rate for 20 years. a) (6 pts) Determine the amount they can afford for a house. N=I%=PV=PMT=FV=P/Y=C/Y= Answer: b) (2 pts) Determine the total amount the Olson's paid for the house. Answer: c) (1pts) Determine the amount of interest the Olson's paid for the house. Answer: d) (6 pts) Complete the amortization table for the first two payments. Must show workStep by Step Solution
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