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The biggest single purchase that most people make in their ives is the purchase of a home. Most home owners have to finance the purchase

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The biggest single purchase that most people make in their ives is the purchase of a home. Most home owners have to finance the purchase with an instaliment loan. Assume you have found your new home and it costs $245,000 You need to have a 20% down payment Determine the 20% down payment and the amount of the mortgage loan. Assume any other costs will be taken care of at settlement and not incorporated into the loan

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