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Business, 09.03.2021 01:50 lilzaya510

g- Tom and John are excited to purchase a new house. Based on where they live they can find a good house for $800,000. They need 15% of the total cost of the home available as a down payment and the rest they will take out a mortgage loan. Tom commits to saving $1,050 a month and John $490 a month. They will put their savings into an account that earns 3.4% compounded monthly. a) How many years will they need to continue to save to purchase an $800,000 home

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