5. a) You can afford a monthly loan payment of $500. If current mortgage rates are...

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5. a) You can afford a monthly loan payment of $500. If current mortgage rates are 3.75% for a 30-year fixed rate loan, how m

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Answer 1

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Sol- hivon that monthly payment - $5oo xate 3.754. T = 30 years w Fv=0 PMT=5oo I = 3.75 1 - 30 x 12 = 360 By using Tum calcul

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