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anonymous
 one year ago
You can afford a $700 per month mortgage payment. You’ve found a 30 year loan at 5% interest.
a. How big of a loan can you afford?
b. How much total money will you pay the loan company? c. How much of that money is interest?
anonymous
 one year ago
You can afford a $700 per month mortgage payment. You’ve found a 30 year loan at 5% interest. a. How big of a loan can you afford? b. How much total money will you pay the loan company? c. How much of that money is interest?

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dumbcow
 one year ago
Best ResponseYou've already chosen the best response.1there are different formulas for this here is one example: http://www.financeformulas.net/Formula%20Images/PV%20of%20Annuity%201.gif plug in 700 for P and .05/12 for r

dumbcow
 one year ago
Best ResponseYou've already chosen the best response.1you can also find mortgage calculators online
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