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Suppose you want to buy a home for $ 8 7 5 , 0 0 0 . You will make a down payment of 2

Suppose you want to buy a home for $

875, 000 .

You will make a down payment of

25 %

of the purchase price, and finance the rest of the home purchase by taking out a mortgage. Your mortgage will involve monthly payments over a

20 -

year amortization period. The interest rate is

4.38 %

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