You just bought a condo for $250,000 and paid $50,000 as down payment. The remaining amount is

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You just bought a condo for $250,000 and paid $50,000 as down payment. The remaining amount is financed through a loan of 4.5% compounded monthly. The loan is for 15 years. You have to make monthly payments at the end of each month. What is your monthly payment? What is the balance of this loan after ten tears? What is the total interest paid on this loan for 15 years?

Posted Date: May 19, 2024 06:14 PM

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You just bought a condo for $250,000 and paid $50,000 as down payment. The remaining amount is

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