Effective cost of the monthly payments

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Please use Excel for the following:

You are going to take a mortgage. N = 30 years, down payment is $20,000 on a $200,000 house, so you borrow $180,000. If the interest rate is 6%/yr compounded monthly, please show the monthly payment for 30 years for the mortgage. Next, plot the effective cost of the monthly payments for the loan if you were to assume 20% income tax

Reference no: EM133075946

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