What will be your monthly payment if you take the loan

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Reference no: EM131300456

You want to purchase a house that is priced at $85,000. You can get a loan for 80 percent of the bank’s appraised value at 15.25% for 30 years with monthl y amortization. The bank’s appraiser has a theory that the value of a house is 95% of the asking price and appraises it accordingly. What will be your monthly payment if you take the loan?

Reference no: EM131300456

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