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What is the loan amount-monthly payment

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Reference no: EM132515963

You bought a house with price of $250,000. Your LTV (loan-to-value ratio) is 80%. You choose the 30-year mortgage with interest rate 6%. Assuming the total transaction cost is $10,000.

What is the loan amount, monthly payment and the loan balance after nine years? Please show calculations in excel.

Reference no: EM132515963

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