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You pay $1066 at the beginning of each month for rent. Instead, you are going to purchase a house. You are going to make a

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You pay $1066 at the beginning of each month for rent. Instead, you are going to purchase a house. You are going to make a 13% down payment and the remainder will be paid through a 25 year mortgage with payments made at the beginning of each month. You may assume 5.20% compounded semi-annually as the rate of interest. What did you pay for your house? Answer: Check

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