The Turners have purchased a house for 130 000 They made an initial down payment...
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The Turners have purchased a house for 130 000 They made an initial down payment of 30 000 and secured a mortgage with interest charged at the rate of 9 year compounded monthly on the unpaid balance The loan is to b amortized over 30 yr Round your answers to the nearest cent a What monthly payment will the Turners be required to make b How much total interest will they pay on the loan c What will be their equity after 10 years d What will be their equity after 22 years
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