How much money will he borrow for his mortgage

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Reference no: EM132033365

Your friend purchases a $165,000 house. He is able to make a 20% down payment. The bank will give him a 30 year loan with a 4% APR

a. How much money will he borrow for his mortgage? (round to the nearest dollar)

b. What would his monthly payment be? (round to the nearest cent)

Reference no: EM132033365

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