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Mortgage or a 30-year mortgage

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Reference no: EM131730107

a) You are purchasing a business building valued at $317,000. You can find a mortgage at 6.9% if you can put 17.5% down. You believe your business can support a $1,750 a month mortgage payment (not including taxes and insurance). Should you select a 25-year mortgage or a 30-year mortgage? Tell your reasons.

Reference no: EM131730107

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