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You are planning to purchase a townhouse in East Vancouver, which is listed at $750,000....

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Finance

You are planning to purchase a townhouse in East Vancouver, which is listed at $750,000. You have just received a heritage farm from your grandparents. After talking to a realtor, you have been informed that you can sell the farm for $250,000. Now, you can use the proceeds of $250,000 as your down payment and apply for a 25 years mortgage at a 3.50% annual rate. You are planning to make a monthly payment and how much each payment will be?

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