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Suppose you want to buy a $147,000 home. You found a bank that offers a 30-year...

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Finance

Suppose you want to buy a $147,000 home. You found a bank thatoffers a 30-year loan at 5.1% APR. What will be your monthlypayment? How much would you end up paying the bank for the homeafter 30 years?

Suppose you wanted to reduce the time of your loan to 25 years.What would be your new monthly payment?

How much would you end up paying the bank for the home after 25years?

How much did you save by reducing the time of your mortgageloan?

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Suppose you want to buy a $147,000 home. You found a bank thatoffers a 30-year loan at 5.1% APR. What will be your monthlypayment? How much would you end up paying the bank for the homeafter 30 years?Suppose you wanted to reduce the time of your loan to 25 years.What would be your new monthly payment?How much would you end up paying the bank for the home after 25years?How much did you save by reducing the time of your mortgageloan?

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