A couple gets financing for 90 of the exist130000 purchase, Ask an Expert

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A couple gets financing for 90% of the exist130.000 purchase price of a house at a rate of 9.5% on the monthly unpaid balance. For each problem below assume the loan is for 20 years and then 30 years.

a. Find the amount of the monthly payments to repay the loan.

b. Find the total amount paid to the finance company.

c. Find the amount of interest paid for the loan.

d. For the 20 year loan create an amortization table.

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Financial Management, Finance

Category:- Financial Management
Reference No.:- M92398358

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