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You are considering buying a two - bedroom apartment for $ 6 0 0 0 0 0 . You plan to make a $ 1

You are considering buying a two-bedroom apartment for $600000. You plan to make a
$100000 down payment and take a $50000030-year mortgage for the rest. The interest
rate on the mortgage is 7% monthly APR.
(a) What is the monthly payment?
(b) How much do you owe the bank immediately after the twentieth monthly payment?

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