What was his monthly loan payment

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Reference no: EM13690349

Jerry bought a house for $400,000 and made an $80,000 down payment. the rest of the cost was paid with a 30 year loan. Payments were paid monthly. The nominal annual interest rate was 6% after 10 years he sold the house and paid the remainder of the loan balance.

A- What was his monthly loan payment?

B- What was the loan payoff amount?

Reference no: EM13690349

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