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You purchase a house for $750,000 and secure a 3% (APR). 30-year loan. (a) What monthly payments can you expect to pay? (b) Based upon
You purchase a house for $750,000 and secure a 3% (APR). 30-year loan. (a) What monthly payments can you expect to pay? (b) Based upon these monthly payments, what is the total amount paid for toe house after 30 years? (c) If you could afford to make a single, "lump sum" payment at the end of the loan period, what would the final payment be (based on monthly compounding)
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