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The buyer of Comparable A paid $ 6 0 0 , 0 0 0 for a house and took an 8 0 % , 3

The buyer of Comparable A paid $600,000 for a house and took an 80%,30-year mortgage from the seller at an annual rate of 8%. The market rate was 9%. First, what is the amount of the loan to the nearest dollar? Second, what would have been the monthy payment on a market-rate mortgage to the nearest dollar? Third, what would be the monthly payment on the seller-financed (8%) mortgage to the nearest dollar?

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