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You bought a $200k condo. You got a 15-year fixed-rate mortgage and made a 20% down payment. A. What is your monthly payment? (5 Marks)

You bought a $200k condo. You got a 15-year fixed-rate mortgage and made a 20% down payment. A. What is your monthly payment? (5 Marks) B. Would the monthly payment be bigger or smaller with a 30-year mortgage at the same interest rate? (1 Mark)

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