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You plan to buy a $178834 house. You have $22863 to use as the down payment. The bank offers to loan you the remainder at
You plan to buy a $178834 house. You have $22863 to use as the down payment. The bank offers to loan you the remainder at 18% nominal interest compounded monthly. The term of the loan is 20 years. What is your equal monthly loan payment?
I only get one shot at solving this so please show your work.
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