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You decide to buy a house costing $ 5 , 0 0 0 , 0 0 0 . You pay $ 1 , 0 0
You decide to buy a house costing $You pay $ down, and the remainder will be paid in monthly installments over years at compounded monthly. What is the monthly payWhat is the equity after making the
th payment?ment? What is the outstanding balance after making the th payment? How much of the th payment will go to principal and how much to interest? How much interest will paid over the entire length of the loan?
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