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You find your dream home worth of $500,000. The bank requires a down payment of 20% of house value. The remaining amount will be financed
You find your dream home worth of $500,000. The bank requires a down payment of 20% of house value. The remaining amount will be financed by a mortgage loan. It is 15 -year mortgage with nominal interest rate of 6.000% per year. The equal monthly installments need to be paid at the end of a month. What is the amount of equal monthly installment on your mortgage loan
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