Justin wants to buy a house for $640,000 by borrowing this amount from a bank at a

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Justin wants to buy a house for $640,000 by borrowing this amount from a bank at a 6 percent interest rate. The loan will be repaid in equal monthly payments over 30 years.

Calculate the monthly payment on this home mortgage.

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Personal Finance

ISBN: 978-1133595830

12th edition

Authors: Thomas Garman, Raymond Forgue

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Posted Date: Jun 14, 2023 05:22 AM

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Justin wants to buy a house for $640,000 by borrowing this amount from a bank at a

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To calculate the monthly payment on a home mortgage we can use the formula for a fixedr... View the full answer

Personal Finance

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