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Question regarding mortgage calculations

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Reference no: EM13116195

House Mortgage

Mr. and Ms.Ostedt have just purchased an $80,000 home and made a 25% down payment. The balance can be amortized at 10% for 25 years.

(a) What are the monthly payments?

(b) How much interest will be paid?

(c) What is their equity after 5 years?

Reference no: EM13116195

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