You purchase a house that costs 850000 with an 8 30-year, Ask an Expert

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You purchase a house that costs $850,000 with an 8%, 30-year mortgage. You are required to make a down payment of 20%.

What is your monthly payment?

What is the principal balance after 8 years and 2 months?

What is the total amount of interest you will end up paying over the life of the mortgage?

Show all your calculations

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Financial Management, Finance

Category:- Financial Management
Reference No.:- M92311865

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