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Mathematics, 06.03.2021 06:00 hilton894
1. An apartment is priced at $195,000. An 85% mortgage can be obtained over a 20- year period.
Find:
i. The deposit
ii. The mortgage needed
iii. Total amount repaid to the bank if each monthly payment is $2347
iv. The total amount that will be paid for the apartment.
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Answers: 3
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1. An apartment is priced at $195,000. An 85% mortgage can be obtained over a 20- year period.
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