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You have $50,000 to put as a down payment on a new house that costs $350,000, and you have been quoted the following terms: 5%
You have $50,000 to put as a down payment on a new house that costs $350,000, and you have
been quoted the following terms: 5% Annual Percentage Rate (APR) for 30 years. If you decide
to purchase this home, what will your monthly payment be? Additionally, over the life of the
loan, what would your total interest expense be?
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Investment Science
Authors: David G. Luenberger
1st Edition
0195108094, 978-0195108095
