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Billy and Suzie Want to Calculate the Difference in Monthly

Question 206

Essay

Billy and Suzie want to calculate the difference in monthly payments on a $110,000 home as a result of a $5,000 down payment or a $10,000 down payment.Use your financial calculator to figure the monthly payments,assuming they get a 6.5%,30-year mortgage.

Correct Answer:

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$ 5,000 down payment: PV = $10...

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