You want to buy a $188,000 home. You plan to pay 20% as a down payment, and
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Question:
You want to buy a $188,000 home. You plan to pay 20% as a down payment, and take out a 30 year loan for the rest.
a) How much is the loan amount going to be?
$
b) What will your monthly payments be if the interest rate is 5%?
$
c) What will your monthly payments be if the interest rate is 6%?
$
Expert Answer:
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