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Someone tells you the details of the great deal the person got on a mortgage: 30-year 1.1% fixed rate with a 20% down payment If
Someone tells you the details of the great deal the person got on a mortgage: 30-year 1.1% fixed rate with a 20% down payment
If the new home costs $136,000, what is the down payment?
$
How much is the person going to borrow to buy the house (assuming the person only has the money to make the down payment from the previous part)?
$
Use Excels PMT function to determine how much the monthly payments would be.
$
How much will the person pay in interest over the lifetime of this mortgage?
$
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