The friersons bought a 575000 home they made a 17 down, Ask an Expert

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The Friersons bought a $575,000 home. They made a 17% down payment and financed the remainder for 25 years at 4.3% interest compounded monthy. Their property tax is $5400 and homeowner's insurance is $2300 a year. Compute the following:

* Amount of the down payment

* Amount to be financed

* The amount of the monthly payment, exluding taxes and insurance

* The total amount paid for their home over the life of the mortgage

* Amount added each month for property tax

* Amount added each month for insurance

* Total amount due each month, including taxes and insurance

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Financial Management, Finance

Category:- Financial Management
Reference No.:- M92799887

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