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You are buying a house for 2823018 dollars with a 32 percent down payment. The mortgage rate is 7 percent APR compounded monthly, and calls
You are buying a house for 2823018 dollars with a 32 percent down payment. The mortgage rate is 7 percent APR compounded monthly, and calls for equal monthly payments over the next 25 years. The first payment is due one month from now. What is your monthly mortgage payment? Select one: o a. $9728.39 o b. $12607.87 O c. $11648.05 O d. $10688.22 Oe. $13567.70 [continued] You are buying a house for 2823018 dollars with a 32 percent down payment. The mortgage rate is 7 percent APR compounded monthly, and calls for equal monthly payments over the next 25 years. The first payment is due one month from now. If at the end of year 10 you would like to prepay the mortgage, that is pay the present value of the subsequent payments. How much will you have to pay 10 years from now if interest rates stay the same? Select one: O a. $1509488 O b. $1804538 O c. $960467 od. $1650966 O e. $1343822
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