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Calculate down payment amount

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Reference no: EM132694673

You want to buy a $400,000 home. Your lender has given you a 30-year loan option with a 10% down payment and a 2.625% APR.

For this mortgage option, calculate,

(a) Down payment amount

(b) Amount financed

(c) Monthly payment

(e) Total amount paid for the home (don't forget the down payment)

(d) Total amount of interest paid

Reference no: EM132694673

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