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Say that you purchase a house for $258,000 by getting a mortgage for $225,000 and...

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Accounting

Say that you purchase a house for $258,000 by getting a mortgage for $225,000 and paying a down payment of $33,000. If you get a 15-year mortgage with an interest rate of 7 percent, what are the monthly payments?

What would the loan balance be in five years?

If the house appreciates at 4 percent per year, what will be the value of the house in five years?

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