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You want to buy a $203,000 home. You plan to pay 20% as a down payment, and take out a 30 year fixed loan for
You want to buy a $203,000 home. You plan to pay 20% as a down payment, and take out a 30 year fixed loan for the rest. Round all answers to the nearest cent as needed. a) How much is the loan amount going to be? b) What will your monthly payments be if the interest rate is 4.6%? c) What will your monthly payments be if the interest rate is 5.6%? You deposit $400 each month into an account earning 2.2% interest. Round all answers to the nearest cent as needed. a) How much will you have in the account in 35 years? $ b) How much of this money did you deposit? $ c) How much of this money is interest earned? $
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