Quen Sam is PLanning to buy a home for $28500 '5%. He needs to do down pay ment and rest he can take montgage 8or i gear at 5%- compounded semi annually with monthly Pay ments what is the cost of buying house over 12years2 Answen is $14760-52

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Q: $289744.28

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A: Given data, Principal Amount (P)=$7,500Rate (r)=0.056512Number of times interest applied per time…

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A: Compound = Quarterly = 4Present Value = pv = $26,000Payment = p = $880 Time = t = 3 * 4 = 12Interest…

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