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10. Amy just took out a mortgage on her new home. She bought the house...

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Accounting

10. Amy just took out a mortgage on her new home. She bought the house for $200,000 and paid the 20% down payment from her savings. She decided on a 15-year mortgage and has an interest rate of 4%. She closed on the house on January 1. How much will Amys monthly payment be?

P/Y C/Y N I/Y PV PMT FV

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