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You are planning to purchase a house at a price of $1,000,000. You are applying for a 30-year mortgage with 6% interest rate at the

You are planning to purchase a house at a price of $1,000,000. You are applying for a 30-year mortgage with 6% interest rate at the Bank of Northeastern to pay this amount. The bank agrees to lend you the rest of the house price if you have cash to pay 24% down payment plus a 8% closing cost of the loan amount. How much cash do you need?

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