Question: A couple has decided to purchase a $150000 house using a down payment of $12000. They can amortize the balance at 9% over 25 years.

A couple has decided to purchase a $150000 house using a down payment of $12000. They can amortize the balance at 9% over 25 years. a) What is their monthly payment? Answer = $ b) What is the total interest paid? Answer = $ c) What is the equity after 5 years? Answer = $ d) What is the equity after 20 years? Answer = $

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