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You want to buy a condo in that costs 9 1 4 7 0 0 and have accumulated a 2 5 % down payment. The
You want to buy a condo in that costs and have accumulated a down payment. The remainder is financed with a year mortgage over a year term which you have negotiated with a local financial institution. As you are a high risk borrower the best rate you can get is an APR of compounded semiannually with month end payments. How much would you owe the mortgage after your mortgage payment?
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