ashlynnanne6535 ashlynnanne6535
  • 15-02-2024
  • Business
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Problem 1: Suppose you want to buy a house for $420,000 and you have $40,000 in savings you can use as a down payment. The rest you finance with a 5-year mortgage (monthly payments) with a quoted interest rate of 4.5%. What will be your monthly mortgage payment?

A) $2,000
B) $2,500
C) $3,000
D) $3,500

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