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You want to buy your first condo, and you have saved up $ 2 5 , 0 0 0 for a down payment. Mortgage rates

You want to buy your first condo, and you have saved up $25,000 for a down payment. Mortgage rates are 6 percent annually and banks require at least a 10% down payment. If you want to maximize the amount you borrow, what is the most you can afford to borrow? The term of the loan is 30 years. How much principal will you still owe after four years?

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