Save for five years for down payment on house

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Reference no: EM13881973

An investor wants to save for five years for a down payment on a house. She deposits $200 per month into a savings account paying 7% compounded monthly. At the end of the five years, she places the balance of the savings account as a down payment on a house costing $79,308.00. What will her monthly house payments be if she finances it for 25 years at 7%?

Reference no: EM13881973

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