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Which of the following loans will result in the lowest monthly payment for someone purchasing a home? A) 15-year mortgage. B) 30-year mortgage. C) A

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Which of the following loans will result in the lowest monthly payment for someone purchasing a home? A) 15-year mortgage. B) 30-year mortgage. C) A 30-year loan with the payment based on a 20-year mortgage amortization with a balloon payment at the end of the 20 years. D) Both a and c result in the same monthly payment. Question 37 (1 point) The Bank of Athens is willing to make a home equity loan up to 80% of the equity in your house. Your house is worth $100,000 and you owe $70,000 on the first mortgage. How much can you borrow? A) $15,000 B) $24,000 C) $30,000 D) $56,000

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