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19-04-2024
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Betty Price purchased a new home for $255,000 with a 20% down payment and the remainder amortized over a 15 year period at 9% interest

a) what amount did Betty finance?
b) what equal monthly payments are required to amortize this loan over 15 years?
c) what equal monthly payments are required if Betty decides to take a 20 year loan rather than 15 year loan?

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