Morris paid $500 per month for 20 years to pay off a bank mortgage on his house. If his down payment was $5 000, and the interest rate was 6% compounded monthly, how much did his house cost?

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The Answer of Morris paid $500 per month for 20 years to pay off a bank mortgage on his house. If his down payment was $5 000, and the interest rate was 6% compounded monthly, how much did his house cost?

Morris Paid $500 Per Month for 20 Years to Pay