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You borrow $250,000 to buy a house and the interest rate is 4.75% for a 30-year loan. What is your monthly payment? If interest rates
You borrow $250,000 to buy a house and the interest rate is 4.75% for a 30-year loan. What is your monthly payment? If interest rates go to 5.5%, how much can you borrow and still have the same payment?
Please answer this in excel form using PV, I, nper, pmt, FV.
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