You bought a house for 130000 using a 20 year mortgage at, Ask an Expert

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You bought a house for $130,000 using a 20 year mortgage at 5.5% interest to be paid monthly. What is your payment? Your parents agree to give you $10,000 toward your home. They offer either to make a down payment or paying off the final $10,000. A. Which do you prefer? B. How much does your payment go down in the better option? C. How much do you save overall?

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Financial Management, Finance

Category:- Financial Management
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