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Posted on Aug 23, 2024

You are about to buy a building for $ 2 5 0 , 0 0 0 and are trying to figure out the additional cost

You are about to buy a building for $

250, 000

and are trying to figure out the additional cost of borrowing $

25, 000

now to do some renovations. If the yearly effective interest rate is

6.95 %

and the loan is a

20 -

year loan, how much extra will your monthly payments be each month to do the renovations?

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