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You purchase a plot of land worth $ 5 4 , 0 0 0 to create a community garden. To do so , you secure
You purchase a plot of land worth $ to create a community garden. To do so you secure a year loan, charging APR, compounded monthly, and requiring monthly payments of $Assume the value of the land is still $ Round each answer to the nearest dollar.
aAssuming that you put some money down, what was your original loan amount in dollars
$
bWhat is the outstanding balance in dollars on your loan after making years of payments?
$
cHow much equity in dollars do you have in the garden after years?
$
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