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You are thinking about buying a condo, and you have saved $ 2 5 , 0 0 0 for a down payment. The bank is

You are thinking about buying a condo, and you have saved $

25, 000

for a down payment. The bank is offering

5 %

loans and requires a

10 %

down payment.

What is the most you can borrow?

What will your monthly payment be on a

30

year loan?

How much principal will you still owe after

4

years?

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