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Suppose you bought a house of $1,000,000 in January 1st 2013 with 20% down payment. The fixed yearly mortgage rate is 4%. The loan periods
Suppose you bought a house of $1,000,000 in January 1st 2013 with 20% down payment. The fixed yearly mortgage rate is 4%. The loan periods are 30 years. What is your monthly payment (monthly compounded)? (please show work) a) $5,100 b) $4,300 c) $3,800 d) $7,500 e) $2,700
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