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Posted on Sep 20, 2024

You are purchasing a home for $ 3 9 5 , 0 0 0 . The loan requires a down payment of 1 5 %

You are purchasing a home for $

395, 000 .

The loan requires

a down payment of

15 %

of the purchase price. There are no other

fees.

The rest will be borrowed through a

7.35 % (

CIA

)

amortized loan with annual payments for

20

years.

What will

the annual payment be on the loan?

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