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Find the down payment amount

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Q1. Mr. and Mrs. Thompson purchase a beachside condo for $545000, pay a down payment of 22%, and obtain a 30-year, fixed-rate mortgage at 5.500%. Find the down payment amount.

Q2. Mr. and Mrs. Thompson purchase a beachside condo for $464000, pay a down payment of 16%, and obtain a 30-year, fixed-rate mortgage at 4.875%. Find the mortgage amount.

Reference no: EM132520664

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