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You want to buy a house and have found one you like for $200,000. You have saved up and can make a 20% down-payment. Due
You want to buy a house and have found one you like for $200,000. You have saved up and can make a 20% down-payment. Due to the recent increases in inflation, the best fixed rate that you can get is 12%/year, compounded monthly. If the duration of the loan is 15 years, what will your monthly payment be?
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