Assume that insurance and taxes do not increase

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Reference no: EM131545607

Stoffan and Landeau purchase a building for their business and make a $50,000 down payment. They finance the balance of $215,000 for 30 years at 7%.

a) Find the total monthly payment given taxes of $7319 per year and insurance of $4213 per year.

b) Assume that insurance and taxes do not increase and find the total cost of owning the building for 30 years. (including the down payment)

Reference no: EM131545607

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