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You buy a $ 4 0 0 , 0 0 0 house. The loan is for 2 5 years and is at 4 . 5

You buy a $

400, 000

house. The loan is for

25

years and is at

4.5 %

monthly.

What is the monthly payment? What is the balance after

10

years? What is the equity after

10

years?

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