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July 28, 2014

Homework Help: Math

Posted by need help :( on Wednesday, October 3, 2012 at 3:43pm.

Denise and David purchased a home in Dallas, Texas. In February 2003 for $250,000. They were able to make a down payment of $80,000, and borrowed the rest through a 15 year mortgage at 4.5% compounded semi-annually.

If they make equal monthly payments, how much is each payment?

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