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You purchase a house that costs $850,000 with an 8%, 30 year mortgage. you are required to make a down payment of 20%. a. what

You purchase a house that costs $850,000 with an 8%, 30 year mortgage. you are required to make a down payment of 20%.

a. what is your monrhly payment ?

b. what is the principal balance after 8 years and 2 months ?

c. what is the total amount of interest you will end up paying over the life of the mortgage?

5 30 year

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