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The Garcias purchased a home for $480,000. They made a 15% down payment and borrowed the rest at 5% interest compounded money on a 20
The Garcias purchased a home for $480,000. They made a 15% down payment and borrowed the rest at 5% interest compounded money on a 20 year loan. Their monthly payments are $2692.62. After making their first payment, how much will the Williams still owe on the house? Hint Make the first line of an amortization table to help answer this
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