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You want to buy a $160,000 home. You plan to pay 20% as a down payment, and take out a 30 year loan at

You want to buy a $160,000 home. You plan to pay 20% as a down payment, and take out a 30 year loan at 3.9% interest for the rest. The bank will charge 3 points on the amount financed. a) What is the amount of the down payment?

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