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You want to buy a $197,000 home. You plan to pay 20% as a down...

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Basic Math

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You want to buy a $197,000 home. You plan to pay 20% as a down payment, and take out a 30 year loan for the rest.a) How much is the loan amount going to be?b) What will your monthly payments be if the interest rate is 6%?c) What will your monthly payments be if the interest rate is 7%?

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