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Stephen Black purchased a home for $450,000. Northridge mortgage company has approved his loan application for a 25-year fixed rate loan at 8%. He agreed
Stephen Black purchased a home for $450,000. Northridge mortgage company has approved his loan application for a 25-year fixed rate loan at 8%. He agreed to pay 20% of the purchase price as a down payment.
(a) How much was the down payment amount?
(b) What was his monthly payment?
(c) How much interest will they pay after
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