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Suppose a property you are seeking to purchase is valued at $ 2 0 0 , 0 0 0 . You can take out a
Suppose a property you are seeking to purchase is valued at $ You can take out a loan of percent from the bank, which amortizes in years. The current market interest rate is percent.
Suppose the interest rate drops to percent. What would be the amount of your new monthly mortgage payment?
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