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You decide to purchase a fixer-upper house for $250,000. You make a down payment of 20% of the purchase price and borrow the rest. You
You decide to purchase a fixer-upper house for $250,000. You make a down payment of 20% of the purchase price and borrow the rest. You found a bank that was willing to give you an annual interest rate of 4.5% on a 20 -year fixed mortgage. How much will you pay each month? In the space below, please indicate what the following variables are (enter answers to four decimal places and be mindful as to whether the variable is a positive or negative number): 1. PV 2. FV 3. Rate % 4. Periods 5. Payment
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