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8-55. Sarah has $30,000 for a down payment on a house and wants to borrow $120,000

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8-55. Sarah has $30,000 for a down payment on a house and wants to borrow $120,000 from a mortgage banker to purchase a $150,000 house. The mortgage loan is to be repaid in monthly installments over a thirty-year period. The annual interest rate is 9 percent. How much will Sarah's monthly mortgage payments be?

 

Paper#24859 | Written in 18-Jul-2015

Price : $22
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