(1 point) A couple has decided to purchase a $120000 house using a down payment of...
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(1 point) A couple has decided to purchase a $120000 house using a down payment of $17000. They can amortize the balance at 5% over 30 years. a) What is their monthly payment? Payment = $ b) What is the total interest paid? Total interest paid = $ c) What is the equity after 5 years? Equity after 5 years = $ d) What is the equity after 25 years? Equity after 25 years = $ Note: You can earn partial credit on this problem. (1 point) A couple has decided to purchase a $120000 house using a down payment of $17000. They can amortize the balance at 5% over 30 years. a) What is their monthly payment? Payment = $ b) What is the total interest paid? Total interest paid = $ c) What is the equity after 5 years? Equity after 5 years = $ d) What is the equity after 25 years? Equity after 25 years = $ Note: You can earn partial credit on this problem.
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