Suppose that you want to buy a house. You could afford $7500.35 a month for...

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Accounting

Suppose that you want to buy a house. You could afford $7500.35 a month for the mortgage. The house is worth 2.2 million dollars. Assuming you make your mortgage payments at the end of each month. And you will make a 20% down payment and get a 3.5% APR on your mortgage, how long will it take to pay the house off (rounded to the nearest year)?

Question 6 options:

a)

623 years

b)

55 years.

c)

33 years.

d)

infinity

Answer & Explanation Solved by verified expert
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